Crypto exchange Bitkub targeted by Thai SEC with wash trading claims
2022 has proven to be a regulatory disaster for Thailand’s largest crypto exchange as it has faced multiple enforcement actions and fines worth hundreds of thousands of dollars.
2022 has proven to be a regulatory disaster for Thailand’s largest crypto exchange as it has faced multiple enforcement actions and fines worth hundreds of thousands of dollars.
Just imagine you will have enough of bad sleep and constantly checking charts sitting on your couch. Or maybe the crypto hype will have died out or slowed down in a few years. You would still do your job and invest in the stock market like everyone. But you're different. You lost money by trading…
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The average Bitcoin price in September of last year was $45,965. It even hit and surpassed the $50K mark three times back then. It did so when it closed September 4, 2021 at $50,000, September 5 at $51,692, and September 6 at $52,644.49. But the largest cryptocurrency by market capitalization is struggling to replicate that kind of run this year as it continues to struggle to hold even just the $20K price range. As of this writing, BTC is trading at $18,802, according to data from CoinGecko. It slightly spiked on Tuesday, reaching just above $23,300 before eventually falling back below the $19K mark once again. Related Reading: BNB Price Watch: The Charts Look Good For Traders – More Green On The Plate? Source: CoinGecko While Bitcoin only lost a measly 0.4% price dip for the last seven days, it has now lost 4.4% of its value over the period of 30 days. Moreover, its current trading price is 55.5% lower than what it was a year ago. Bitcoin Price Continues To Struggle The crypto space experienced a major crash between May and June this year when its total market value decreased by $2 trillion. Bitcoin was greatly affected by that and since then has been trading between $18,000 and $25,000. The digital asset’s price is not the only thing that is struggling as its stocks retreated into bearish direction, dipping by 1% at $19,078. Inflation seems to be the main driving force of the chaos that has been wreaking havoc in crypto space for the past months as central banks leaned on increased interest rates to combat the economic dilemma. The crypto industry also witnessed notable bankruptcies and insolvency issues that also impacted the digital assets’ attempt at a bullish run. Related Reading: Polkadot Price Watch: What A Drop In This Key Area Can Mean For DOT? Will Bitcoin Fall Below $18K Again? Some experts believe that when certain conditions happen, the widely followed crypto will experience severe drop once again. It is believed that if inflation rate rises anywhere between 9.5% and 10%, the U.S. Federal Reserve might have an emergency meeting to discuss another round of interest rate hikes. If this happens, leveraged participants in the crypto markets will once again be affected in a negative way and that could lead to Bitcoin’s price plummeting below $18,000. On June 18, 2022, BTC dropped to a low near that price due to the negativity brought by the bankruptcy of Three Arrows Capital and Celsius. BTC total market cap at $357 billion on the daily chart | Source: TradingView.com Featured image from Fox Business, Chart: TradingView.com
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Cardano price has been consolidating on its chart at the time of writing. Over the past day, ADA moved down by 0.6%, indicating that the altcoin was rangebound. In the past week, Cardano price has depreciated by 3%. The bulls had helped the coin to soar close to the $0.46 level as demand for the coin returned briefly on the chart. There has been rigid resistance to the altcoin at the $0.48 price mark. The technical outlook of the Cardano price has remained bearish as selling strength mounted on the chart. The support zone for the coin stood between $0.44 and $0.40 on the chart. If buying strength returns, the coin may try to move close to $0.46 before attempting $0.48. At the present time, ADA is trading 86% lower than its all-time high. With increased and sustained demand, ADA should be able to manage to move above $0.48, which could cause the altcoin to invalidate its bearish thesis. Cardano Price Analysis: One Day Chart ADA was trading at $0.44 at the time of writing. The bulls had stuck around for Cardano price to touch the $0.46 mark. The bulls were rejected soon after that. Overhead resistance for ADA was at $0.48, following which the coin might encounter another price ceiling at $0.52 before unleashing the bulls again. On the other hand, the nearest price floor for Cardano was $0.41. Falling below that level will only strengthen the power of the bears. The amount of Cardano traded in the last session fell, indicating that the demand was low as selling strength took over. Technical Analysis ADA continued to display the power of selling strength by showing that the price of the altcoin continued to travel southwards. Technical indicators depicted lower demand for the altcoin. The Relative Strength Index was below the half-line, and that meant an increased number of sellers in the market for Cardano. Cardano price was below the 20-SMA line, which pointed toward reduced demand for the altcoin. It also shows that sellers were in charge of the price momentum. With more demand and buyers, Cardano could attempt to move above the 20-SMA and 50-SMA lines, respectively, helping the bulls to garner strength on the chart. Related Reading: Investors Cash Out $5M From 7-Week Bull Run On Short Bitcoin ADA continues to demonstrate that sellers were more active compared to buyers on the 24-hour chart. The price movement was overall in a downtrend. Moving Average Convergence Divergence displays the price momentum and the price action of the coin. MACD continued to display red histograms, which are considered as sell signal for the coin. The Parabolic SAR also accounts for the price direction of the altcoin. The formation of dotted lines above the candlestick by the Parabolic SAR indicated that the Cardano price was in a downward trend. Related Reading: Ethereum Name Service (ENS) Looks Strong, Eyes $16 Reclaim Featured image from Mint , charts from TradingView.com
An MEV bot gained massive profits worth $1 million by seizing an arbitrage opportunity. However, it was tricked into authorizing a malicious transaction that drained the funds.
BTC, ETH prices both up 6% https://decrypt.co/110599/bitcoin-ethereum-jump-market-hits-1-trillion-mark submitted by /u/HipsterCat49 [link] [comments]
submitted by /u/CryptoTaxLawyer [link] [comments]
I am not implying that they are all dishonest. Please don't get me wrong. There are some really serious projects out there that deserve all our respect. This is a post intended for fun, targeted at failed or sketchy projects that promise the world but fail/failed to deliver. I will start with one of my…
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Last month I asked you guys what you're biggest fck-up was. This was such an interesting read that I asked you for your biggest 'dodged-a-bullet' moment. This thread was also really cool to see. So in the hopes to learn something from you guys I am curious what your biggest WIN is within the crypto…
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