Bitcoin Price Plunges to ,700! | BTC Quarterly Performance

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Elon Musk, Jeff Bezos, Kanye West and Obama are among many victims after massive Twitter hack aims to dupe Bitcoin (BTC) holders out of their cryptocurrency.

Elon Musk’s Twitter account was apparently hijacked today following a series of attacks on cryptocurrency-related accounts, including major exchanges such as Binance, and U.S.-based Coinbase, and Gemini.

Other handles compromised included the @Bitcoin Twitter account. Musk’s account pinned a tweet to his feed at 4:17pm ET which suggested that the entrepreneur would double any Bitcoin sent to a wallet address.

Musk has, in the past, discussed cryptocurrencies on his Twitter feed, suggesting that he owns 0.25 Bitcoins.

Scammers have been known to use this technique to dupe Bitcoin owners into sending irreversible transactions to a digital wallet.

Bill Gates’ account was also targeted as the attack continued.

While the attackers initially concentrated on crypto-native accounts, they expanded to technology leaders including Jeff Bezos of Amazon, and then to celebrities like Kanye West.

After ten minutes, the wallet address that was posted on Musk’s account already contained 3.64 Bitcoins, worth $34,498 at the time of writing.

Prior to Musk’s account being hacked, the wallet had only received 0.6527 Bitcoins after being posted on the hacked accounts of numerous exchanges.

Numerous other accounts within the cryptocurrency space had already been accessed by the apparent hack, including the largest exchanges in the space.

Binance and Coinbase have 2.2 million Twitter followers between them, although Musk’s account is an order of magnitude larger, with 36.9 million followers.

While the original tweet was soon deleted, a new version popped up again within seconds, suggesting that the attack was ongoing.

In other trending Bitcoin News today:

Glassnode Says ChainLink Buyers on Rampage As Crypto Asset Bursts Into Top Ten by Market Cap

A new Glassnode Insights report says exchanges have witnessed a significant surge in LINK deposits over the last few weeks, suggesting that early investors were incentivized to unload their ChainLink holdings as the cryptocurrency soared in value.

“On July 4th, the number of LINK exchange deposits reached an ATH, with ~5000 individual deposits totaling nearly four million LINK (worth almost $19 million at the time)… Then, on July 13th, LINK exchange deposits spiked again (albeit less intensely than the previous spike).”

Despite the surge of ChainLink deposits to crypto exchanges, on-chain metrics show buyers are outmuscling sellers. Glassnode says exchange withdrawals skyrocketed to its second-highest level, indicating that those who recently bought LINK plan to HODL.

The considerable growth in addresses that hold non-zero LINK balance supports the idea that market participants are bullish on the crypto token.

The metric posted a new all-time high this month, suggesting the rising number of LINK HODLers.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Tough day for us at Twitter. We all feel terrible this happened.We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened.

💙 to our teammates working hard to make this right.

— jack (@jack) July 16, 2020

Please speak up all you trolls that attacked me for telling you that $DIG was nothing but a huge scam. This chart will eventually describe 99% of all alt coins. But of course, your pet rock will not be one that flat lines pic.twitter.com/LI0EDDsNbf

— Peter Brandt (@PeterLBrandt) July 15, 2020

https://cointelegraph.com/news/elon-musk-twitter-account-apparently-hacked-by-bitcoin-thief

https://cointelegraph.com/news/who-owns-the-cryptoforhealth-domain-behind-the-twitter-hacks

https://www.bbc.com/news/technology-53425822

https://www.newsbtc.com/2020/07/16/bitcoin-bull-peter-brandt-99-of-altcoins-will-eventually-fall-towards-0/

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As Jan. 2020 comes to a close, the Bitcoin price is up 32% this month.

As one analyst points out, if this continues every month, the BTC price will reach $152,000 by the end of the year.

In a tweet that garnered thousands of likes and replies yesterday, Bitcoin (BTC) analyst and developer Crypto₿ull pointed out that Bitcoin is up 32% this month. He added:

“Bitcoin is up 32% this month. If we go up 32% every month this year we will be at $152,000 in December.”

That’s a pretty eye-opening BTC prediction 2020 thought. Of course, there’s absolutely no guarantee that BTC will repeat its January success every month this year.

And of course, he received several replies pointing out that 32% a month was “unrealistic” and that “Nothing goes up in a straight line.”

However, Crypto₿ull added that for those who thought that 32% a month sounded like “madness,” they just needed to look back at 2017.

“To those of you who think 32% monthly sounds like madness. 2017 opened at $960. It reached as high as $19,666 in Dec. That equals an average of 32% every month. Bitcoin gains are the definition of madness.”

In other Bitcoin news today…

An analyst who predicted Bitcoin’s $3,000 2018 bottom expects this next bull run to break a minimum of $14,000 highs.

“took a much needed couple days off to clear the head from a macro POV we can see a very clear 5 wave rise from the 6k lows breaking key down trend. considering the rise from the 2018 lows was also 5 waves we would expect this next bull run to at minimum break the 14k highs”

His Elliot Wave analysis suggests that Bitcoin has a high likelihood of breaking $14,000 — 48% above the current price point of $9,400 — by the middle of 2020, likely around or just after the time of the block reward reduction in May 2020.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

To those of you who think 32% monthly sounds like madness.2017 opened at $960. It reached as high as $19,666 in Dec.That equals an average of 32% every month.

Bitcoin gains are the definition of madness.

— Crypto₿ull (@CryptoBull) January 30, 2020

took a much needed couple days off to clear the head.from a macro POV we can see a very clear 5 wave rise from the 6k lows breaking key down trend.

considering the rise from the 2018 lows was also 5 waves we would expect this next bull run to at minimum break the 14k highs 🐂 pic.twitter.com/KtadWBqBoX

— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) January 31, 2020

Bitcoin Is Up 32% This Month – On Track for $152,000 Year-End?

Analyst Who Predicted Bitcoin’s $3,000 2018 Bottom Says This is Next

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At a $100,000 Bitcoin price, the BTC market cap will be worth as much as Apple.

Seems like that’s the least we can do in this halving cycle according to a popular Crypto analyst.

The Bitcoin stock-to-flow model predicts a $100,000 BTC price for the first time on August 16th, 2021.

PlanB says Bitcoin could eclipse the prediction of his controversial stock-to-flow model (S2F) and meteorically rise to $864,000 in four years.

In an interview with cryptocurrency podcaster Peter McCormack, the quantitative analyst says he actually made a conservative bet when he predicted that BTC will hit $288,000.

“I’m on $288,000 as an average value. $100,000 would be very nice, too. But if you just follow the math, if you just follow the data, and I don’t mean the time-series model. So we’re not looking at Bitcoin only. We’re looking at gold, silver, diamonds, real estate, all that stuff. It’s $288,000.

That’s an average value. It could overshoot, like three times, like it did the last phases. I don’t want to mention the number. I try to be conservative all the time. But let’s say a 2x or a 3x from that $288,000, and then it crashes again, of course.”

PlanB also highlights the significance of getting a publicly-listed company to purchase hundreds of millions of dollars worth of BTC as a hedge against inflation.

“I noticed a lot of people didn’t see the importance of what MicroStrategy did but because it’s a listed company, it means that people can put Bitcoin or well [get] Bitcoin exposure in their pension funds.

They could just call their broker and, they can’t say ‘Well, get me some Bitcoin in my pension fund.’ But they can say, ‘Get me these and these and these companies. I want to have those in my pension scheme.’ In that way, you could see MicroStrategy as an ETF.”

Meanwhile, the crypto analyst remains confident in his S2F model and stresses the fact that it is following the script so far.

PlanB also notes that the king crypto is starting to seriously pique the interest of big-money players.

“We now are seeing pull from clients, from people that go to Fidelity and all the big players and ask for Bitcoin in their pension fund.”

But, the widely-followed analyst emphasizes that the S2F model is not infallible.

“The model can fail. It’s a model right. It’s a theory. It’s more to describe something and it’s quantitative so that helps. But it is a model. It can fail. Bitcoin will not fail. I don’t believe that.”

As for the Bitcoin’s current correction, PlanB says that the pullback is meant to scare new investors.

“Small Bitcoin test to shake out weak hands that entered May-Aug. If you can’t handle this, get out now. If you can, welcome to the club! Things to watch –will this be the first dip that stays above $10,000 – will we see a fast V-shape recovery next days.”

In other trending Bitcoin News today:

Sushiswap Creator Returns $14 Million After Community Cries Exit Scam

One week after the Sushiswap creator was accused of an exit scam, he has returned all of the coins he cashed out.

The anonymous creator also apologizes to the community, including to Binance which came under fire for listing the sushi token.

The creator of Sushiswap, the anonymous Chef Nomi, has returned $14 million worth of ETH to the project’s developer fund.

Chef Nomi tweeted Friday:

I have returned all the $14M worth of ETH back to the treasury. And I will let the community decide how much I deserve as the original creator of Sushiswap. In any currency (ETH/SUSHI/etc). With any lockup schedule you wish.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

I have returned all the $14M worth of ETH back to the treasury. And I will let the community decide how much I deserve as the original creator of SushiSwap. In any currency (ETH/SUSHI/etc). With any lockup schedule you wish.https://t.co/QwFj5SeeuQ

— Chef Nomi #SushiSwap (@NomiChef) September 11, 2020

https://news.bitcoin.com/sushiswap-returns-14-million-exit-scam/

https://cointelegraph.com/news/bullish-pennant-hints-at-bitcoin-price-breakout-to-11-300