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If small nations and central banks add Bitcoin to their balance sheets it could send Bitcoin’s price to $1 million very fast. The Ether Fund by
3IQ got listed on the Toronto Stock Exchange ($QETH) and the fund has already raised ~$75 Million. DBS Bank鈥檚 digital exchange to begin trading Crypto 鈥榥ext week鈥. Four U.S. lawmakers want Treasury Secretary Steven Mnuchin to rethink his rumored crypto wallet regulations. Bitso raises $62 Million to expand Crypto footprint in Brazil which is great for XRP as it opens new corridors for Ripple ODL usage. Central bank digital currencies, or CBDCs, will be fairly easy to convert into cryptocurrencies in the future, Ethereum co-founder Vitalik Buterin believes.

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Must Watch Interviews!
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Disclaimer – Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice.

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My other channels and subscribe!
https://www.youtube.com/channel/UCMAep54SS2uOP0cDlZAUGMQ — Food channel
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https://www.youtube.com/channel/UC3La_FQoHwz-rlnIHTAWWOA — Crypto Update channel, 1 video per day summarizing all of the day’s important crypto events

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* This is not financial advice, trade at your own risk. This is for entertainment only

Ethereum blockchain is saving the world. Bitcoin is stuck under 10K and Tether falls below its peg. All the top crypto news every day.

Article 1 – Bitcoin Stuck in High $9K Range as Stocks Soar on Powell Comments
https://www.coindesk.com/market-wrap-bitcoin-stuck-in-high-9k-range-as-stocks-soar-on-powell-comments

Article 2 – Bitcoin Demand Pushes Tether Below $1 for Longest Stretch Since March
https://www.coindesk.com/bitcoin-demand-pushes-tether-below-1-for-longest-stretch-since-march

Article 3 – Vitalik Buterin: Blockchains Will Discourage Monopolies, Not Create Them
https://www.coindesk.com/vitalik-buterin-blockchains-will-discourage-monopolies-not-create-them

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The PlusToken scam of 2019 helped fuel Bitcoin鈥檚 parabolic rise to $14,000 in mid-2019, before the scammers began dumping stolen Bitcoin into the market through the crypto exchange Huobi. New data that shows the growth of cryptocurrency wallets across the most popular cryptocurrency exchange from January 2019 on, shows just how large the impact that PlusToken had on the crypto market and Bitcoin鈥檚 price during the calendar year. During the early half of last year, a Ponzi scheme called PlusToken defrauded a large sum of Bitcoin from investors. The buying up of Bitcoin to fuel the scheme, caused the leading cryptocurrency by market cap to break up and out of its bottom trading range 鈥 possibly preemptively 鈥 and caused the crypto asset to skyrocket. Related Reading | Could PlusToken Scam Be Responsible for Broken Crypto Market Structure? Once Bitcoin began lifting off, FOMO from sidelined traders and investors not wanting to miss out on cheap Bitcoin drove the price up higher and higher, causing the asset to go parabolic once again. The rally went on for three months until the first-ever crypto asset was stopped at resistance at $14,000. The top coincided with PlusToken scammers beginning to move their stolen BTC to crypto trading platform Huobi, where it was sold into the market causing prices to collapse. The scammers ended up with an estimated 200,000 BTC 鈥 which is a significant portion of the crypto asset鈥檚 hard-capped supply. Each time Bitcoin鈥檚 price would rise, the scammers would dump more BTC into the market, causing the price to plummet lower and lower. Some analysts blame the PlusToken scam for the cryptocurrency market鈥檚 broken 鈥渟tructure.鈥漈o understand just how large the impact of the scam was on the crypto market, one analyst has measured the total wallet balances of most major crypto platforms. While most crypto platforms remained relatively steady throughout the year, Huobi鈥檚 wallets can be seen ballooning, then as the PlusToken scammers unloaded, began to retract. According to the analyst, most exchanges changed by as much as 10,000 to 40,000 BTC. Meanwhile, Huobi gained nearly 200,000 net BTC. It鈥檚 suspect that the exchange has grown nearly the same amount as the scammers were said to have stolen, and later dumped into the market. Related Reading | Max Pain: Bitcoin Boredom Incoming Before Bull Market BeginsInterestingly, Bitfinex, which this year has fought off all kinds of bad press related to sister company Tether, saw an enormous outflow of BTC from the exchange. However, the deviation between the two platforms is likely unrelated. It鈥檒l still be a while to come before the impact of the PlusToken scam on the crypto market wears off, and until then, we may be stuck in a downtrend a bit longer, until the scammers run out of BTC to sell.

All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/2020/01/10/crypto-exchange-wallet-balance-shows-impact-of-plustoken-scam/

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Crypto Exchange Wallet Balance Shows Impact of PlusToken Scam: https://www.youtube.com/watch?v=ladnsK1GJLY

Best Crypto Portfolio Structure 2019 – How I Balance Bitcoin & Altcoins
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I am not a licensed financial advisor. My views are general in nature and should not be taken as financial advice. Always do your own research before investing any money.

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