The True Power of ERC-20 and ERC-721 Tokens

Checking your browser before accessing btcmanager.com.

This process is automatic. Your browser will redirect to your requested content shortly.

Please allow up to 5 seconds…

Redirecting…

Watch out as r/Wallstreetbets finally allows crypto threads… within limits

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Raise a PINT to Polkadot’s new index token: Six top projects sign up

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Coinbase COIN Debuts To A Bloody Bitcoin, But Bullish Structure Remains

Whether it was capital being moved from Bitcoin into COIN during its stock market debut or if it was a classic sell the news event, the top cryptocurrency is red on the day.

Bulls were expected to steal the show today but instead, there’s been a 5% intraday drop from today’s new all-time high. A short-term bullish structure, however, remains intact – meaning the selloff could be a bullish retest ready to rocket prices toward $87,000 per BTC.

COIN: Coinbase Global Brings Crypto To The Nasdaq

Coinbase Global (COIN) began trading on the Nasdaq today, marking crypto’s big stock market debut and the first cryptocurrency company to go public.

Related Reading | Bitcoin NFT “The Death of Fiat” Commemorates Crypto Bull Run

Excitement leading up to the listing has spurred crypto market FOMO and pushed Bitcoin and Ethereum further to set new all-time highs. Exchange tokens, altcoins, and everything else has been pumping too.

coin coinbase global

COIN fell in the hours after an initial rise to a high of $428  | Source: NASDAQ-COIN on TradingView.com

COIN made its debut today reaching a high of $428, but in the last several hours has fallen by as much as 27% to a low of $310 on the day.

Bitcoin also fell and is also down 5% on the day. However, the fall to retest support ultimately could be bullish for the top cryptocurrency and was a quick shakeout before moving higher.

bitcoin coinbase debutBitcoin dropped 5% from today's highs as COIN made its stock market debut | Source: BTCUSD on TradingView.com

Bitcoin Forms Most Bullish Pattern Ever: The Ascending Triangle

In technical analysis, depending on the lean of a trend angle it can determine if the market structure is bearish or bullish. Price action leaves behind support and resistance that form geometrical shapes and other patterns.

Inverse head and shoulders, falling wedge, cup and handle, and more are all bullish patterns. Triangles come in various forms, but when they’re bullish the lower trend line is ascending.

Technical Analysis Education | Everything You Need To Know About Triangles

An ascending triangle pattern appeared ahead of the Coinbase Global debut, with a breakout yesterday and potential retest of resistance turned support today.

bitcoin coinbase debut triangle

Ascending triangles are some of the most powerfully bullish patterns | Source: BTCUSD on TradingView.com

If the classically bullish chart pattern holds, the target based on the measure rule would send the top cryptocurrency to prices of $86,000 or more. Crypto market cycle highs have been expected to reach as much as $100,000 or more per BTC, however, a rare and accurate top signal based on Pi has recently appeared.

Coinbase has made its debut. It is now time for Bitcoin to prove to Wall Street the COIN listing was worth all the attention.

Featured image from Deposit Photos, Charts from TradingView.com

Investors File Class Action Lawsuit Before the National Court of Spain Over an Alleged $298M Crypto Scam

Investors File Class Action Lawsuit Before the National Court of Spain Over an Alleged $298M Crypto Scam

A group of Spaniards filed the first crypto-related class-action lawsuit before the National Court of Spain on an alleged million-dollar scam. The lawsuit targets an individual accused of allegedly scammed over 300 small crypto investors across Spain.

Money Stolen Could Amount Up to $3.58 Billion

Per El País, the class-action lawsuit claims that an individual named Javier Biosca Rodríguez allegedly scammed over 250 million euros ($298 million) in cryptocurrencies from the investors.

The profile of the victims is mixed, starting from domestic employees, retirees, unemployed, even notaries, a judge, lawyers, tax inspectors, and owners of small businesses who tried to recover from the coronavirus-driven economic crisis.

Although it’s not the first class-action suit filed before the National Court of Spain, it’s the first-of-its-kind that involves a crypto-related case, said the local media outlet.

The lawyer representing the victims is Emilia Zaballos, who clarified that despite the class-action lawsuit was filed on March 17, 2021, it wasn’t disclosed to the public “until the deadline for submitting contracts and other documents provided by small investors, in general, has ended.”

Moreover, Zaballos – who also is the president of the Association of People Affected by Cryptocurrency Investors (AAIC) – says that the number of victims “keeps rising each day.”

Specifically, the lawsuit states the damages sum up to around 250 million euros ($298 million), but the lawyer is concerned that the amount could cross the 3 billion euros ($3.58 billion) barrier.

Alleged Ponzi Scheme Collapsed in November 2020

According to the court documents, Biosca built a scheme based on offering its clients weekly returns on their crypto investments between 20 and 25%. Mainly, he focused on acquiring bitcoin (BTC), ethereum (ETH), and litecoin (LTC) with the collected money.

Clients indeed initially started to receive the profits from their investments. Due to the trust gained by Biosca, its initial small amount of customer base spread the voice and attracted even more investors onto the scheme.

However, Biosca reduced the returns promised to 10% or even 8% weekly starting January 2020.

He told his customers that he owned a brokerage firm named Algorithms Group, but the company wasn’t in the Spanish National Securities Markets Commission (CNMV). Later in November 2020, Biosca stopped paying his customers.

Zaballos says that lawsuit is extended to Biosca’s wife and his older son, accusing them of scam and other crimes such as “as misappropriation, receipt and money laundering, illicit association, crimes against the public treasury, bribery, corporate crimes, concealment and falsification in a public document.”

What do you think about this alleged millionaire crypto scam case in Spain? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Has The NFT Bubble Popped? Prices Down 65% While Ecologists Sharpen Knives

The NFT space has had a record-breaking first quarter with a multitude of high-profile sales. Most notable was Beeple’s The First 5000 Days, which sold for an eye-watering $69.3mn on March 11. It was the culmination of near 14 years of daily artwork around the theme of societal contradictions in the technology age.

As the third most expensive artwork by a living artist, the scene was set for other NFT artists to follow what Beeple had achieved. To date, none have come close. But that didn’t stop the frenzy of artists and flat-out “minters” from trying to ride the NFT wave.

Average NFT Prices Plunge

The primary controversy surrounding art NFTs can be distilled into a single question, are they worth the cost? Based on data from Nonfungible.com, the answer is no. Or in the least, that the market is waking up with a hangover from what has been a wild first quarter.

Nonfungible.com plotted the weekly average price of all NFTs from October 2020 to the end of March 2021. The figures show a peak price of just under $4k in mid-February. A sharp decline followed as the quarter closed out, ending with an average price of $1.4k – a 65% drop.

The tight date range puts this data as statistically insignificant. But it’s interesting to note that while volume also took a tumble some three weeks after the peak price, the volume pattern prints a series of higher lows. This would suggest interest in NFTs hasn’t gone away.

Average NFT price

Source: nonfungible.com

Nonfungible.com dismisses the average price drop as simply stabilization following an unusually buoyant quarter. They also claim to have predicted the drop, saying it is reassuring that a sense of normalcy had returned to the market.

“Can this be considered a price crash and the start of the market correction? Not exactly, the trend seems more to show a stabilization on a high plateau following a speculative peak.”

They concluded that, despite the price dip, NFTs still have a bright future ahead.

The Environmental Argument Hits NFTs

Anyone familiar with Bitcoin is aware of the environmental argument against proof-of-work (PoW) networks. It goes something along the lines of PoW is ecologically damaging from a carbon emissions standpoint and a waste of electricity.

Bitcoin catches much of the ecological flak. Perhaps justifiably due to its superior hashing power compared to all other PoW networks. But given the soaring popularity of NFTs, environmentalists are now turning their attention to Ethereum, the platform on which most NFTs get minted and exist.

Chris Precht, an Austrian architect, known for his ecological buildings, was excited when he first came across NFTs. So much so he had planned to mint and sell 300 digital artwork pieces.

However, after learning about the reputed environmental damage he canceled his plans for moral reasons.

“According to an estimate backed up by independent researchers, the creation of an average NFT has a stunning environmental footprint of over 200 kilograms of planet-warming carbon, equivalent to driving 500 miles in a typical American gasoline-powered car.”

Has the NFT bubble popped? Based on limited data, it’s too soon to say. However, with NFTs now catching environmental flak, there’s one more reason for naysayers to object.

Ethereum daily chart: NFT

Source: ETHUSD on TradingView.com

$420M in leveraged long traders liquidated after XRP rallies to $1.96

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Garry Tan’s 2013 investment of $300K in Coinbase is now worth $2.4B

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

US President Biden Pushes for More Stimulus, One Million ‘Plus-up’ Payments Go out This Week

US President Biden Pushes for More Stimulus, One Million ‘Plus-up’ Payments Go out This Week

U.S. politicians are talking about stimulus again in order to bolster American jobs and President Joe Biden’s infrastructure plan. At the end of last week, White House press secretary Jen Psaki explained that Biden would meet with bipartisan members of Congress on Monday in order to push his proposal. According to reports, Biden’s proposed plan could be a touch smaller than the estimated $2.25 trillion.

Biden Suggests Scaling Back the $2.25 Trillion ‘Build Back a Better America’ Infrastructure Proposal

The U.S. government is talking about creating more stimulus in order to provide jobs and “build back a better” America. Last Friday, the press was told that Joe Biden would be meeting with bipartisan members of Congress in order to sell his infrastructure proposal. It was noted that Congress would be heading back to D.C. and Biden would tell them all about his plan to fix roads, public housing, transportation, and communications.

During the meeting with bipartisan colleagues, Biden explained that he was “prepared to negotiate” and even noted that the estimated $2.25 trillion could be less. “I think everyone acknowledges we need a significant increase in infrastructure; it’s going to get down to what we call infrastructure,” Biden said at the time. Additionally, Biden explained that the White House was publishing “state-by-state fact sheets” which explain all the infrastructure that could be fixed with this new stimulus.

White House Press Secretary Jen Psaki explained that the data shown is “laying out the critical necessity” in regard to the President’s proposal. Meanwhile, Americans have begun spending their latest $1,400 Covid stimulus checks to pay for necessities, according to a recently published Bankrate.com study. According to the survey, 45% of U.S. citizens have been using the funds to pay monthly expenses. 28% of the respondents said they would save the stimulus and 32% intended to pay down debt.

Bitcoin.com News recently reported on Mizuho Bank and Harris Poll data showing the number of Americans willing to spend their stimulus payments on bitcoin and other crypto-assets.

Goldman Sachs Expects Biden to Push $3.3 Trillion Into the US Economy

Moreover, some people are getting “plus-up” payments, which means stimulus funding is being sent to people who didn’t get stimulus payments prior to the last payments. Two types of Americans can make the cut for the “plus-up” payments, people who lost major amounts of income from 2019 to 2020 and citizens who added a new dependent in 2020. Meanwhile, American banks like Goldman Sachs expect the latest stimulus proposal Biden is now proposing and even more stimulus plans to exceed $2.25 trillion.

According to a note from Goldman Sachs Group Inc. analysts, the team believes Biden will get congress to pass around $3.3 trillion in total. “We expect Congress to pass most of this spending later this year, including nearly all of the ‘hard infrastructure’ spending that President Biden proposes, as well as most of the research, manufacturing, and ‘green’ incentives,” Alec Phillips, a Goldman analyst, wrote in a note Sunday.

However, not all of corporate America is pleased with Biden’s stimulus idea and many see the infrastructure plan’s tax hikes crushing U.S. businesses. The Business Roundtable recently initiated a multimillion-dollar campaign against President Biden’s tax increases mentioned in the $2.25 trillion stimulus draft for jobs and infrastructure.

What do you think about the latest discussions concerning the proposed $2.25 trillion stimulus plan for infrastructure? Let us know what you think about this subject in the comments section below.

Tags in this story
$1400 stimulus

,

Biden’s stimulus

,

Business Roundtable

,

communications

,

economics

,

fix roads

,

Goldman Sachs

,

infrastructure

,

Jen Psaki

,

Joe Biden

,

more stimulus

,

Payments

,

Public Housing

,

stimulus

,

Transportation

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.