The cryptocurrency market witnessed significant turbulence last week following the arrest and subsequent release of Pavel Durov, the CEO of Telegram. Toncoin (TON), the cryptocurrency associated with Telegram, experienced dramatic price fluctuations in response to these events.
On August 24, 2024, Durov was arrested by French authorities at Le Bourget airport near Paris, facing charges related to data privacy and cryptocurrency regulation violations. The news of his arrest led to a sharp decline in Toncoin’s price, plummeting by approximately 25% to $5.24 as panic selling ensued among investors. This sudden drop highlighted the market’s sensitivity to legal issues involving key figures in the cryptocurrency space.
However, the situation took another turn when Durov was released on bail on August 29, 2024. The court set his bail at $5.56 million, and the news of his release provided a much-needed boost to Toncoin’s price. Following the announcement, Toncoin rebounded by over 6%, climbing to $5.59. This recovery, although partial, indicated a renewed confidence among investors, albeit tempered by ongoing uncertainties.
The arrest and release of Durov have underscored the volatility inherent in the cryptocurrency market, particularly for assets closely tied to influential individuals. While the immediate impact on Toncoin’s price was significant, the long-term effects will depend on the resolution of the legal issues facing Durov and the broader regulatory environment for cryptocurrencies.
As the market continues to react to these developments, investors are advised to remain cautious and stay informed about potential risks. The case of Toncoin serves as a reminder of the complexities and uncertainties that can influence the value of digital assets.
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VENMO LAUNCHES BITCOIN AND CRYPTO TRADING TO 77 MILLION USERS!! THESE ALTCOINS CAN SURGE 100X!!
đ° BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Beginning on Tuesday and set to be widely available within the new few weeks Paypal-Owned Venmoâs 77 million+ new customers will be able to buy, hold, and sell Bitcoin and cryptocurrency within the Venmo app with as little as $1 and will include trading for four major coins: Bitcoin (BTC), Ether (ETH), Litceoin (LTC) and Bitcoin Cash (BCH).
In other trending Bitcoin News today:
These Crypto Assets Could Surge 100x, According to Altcoin Daily
In a new video, the YouTubers and crypto analysts tell their 656,000 subscribers that crypto research tool and data analytics platform Messari can provide traders the opportunity to find out which low-cap coins have caught the attention of large venture capitalist funds.
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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:
Venmoâs 77 million users can now buy, hold, and sell #bitcoin with as little as $1.
â Documenting Bitcoin đ (@DocumentingBTC) April 20, 2021
$BTC â If you are willing to buy a hyped up meme coin at these prices, you should have no problem adding some #Bitcoin spot here. Once $DOGE dumps we should see a nice recovery. No point talking about any price lower than $52,000 unless this doesn’t hold, which I think it will. pic.twitter.com/UfNz1WehGr
â IncomeSharks (@IncomeSharks) April 20, 2021
These Crypto Assets Could Surge 100x, According to Altcoin Daily
https://cointelegraph.com/news/bitcoin-transactions-fees-in-us-dollars-near-all-time-high-levels
https://cointelegraph.com/news/paypal-owned-venmo-launches-cryptocurrency-trading
https://cointelegraph.com/news/bitcoin-rebounds-to-56k-as-dogecoin-price-halts-at-420-weekly-gains
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Key Google Metric: Bitcoin Price May Explode Into 0K Parabolic Rally | BTC Death Spiral Buzz Kill
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Google Trends Suggests Bitcoin Price to Soon Explode
Since Bitcoin (BTC) investors got a taste of parabolic price action in early 2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeksâ time, they have been craving more.
According to a Google Trends analysis, another parabolic rally is about to form in the Cryptocurrency market again.
Considering historical rallies, this next bull market could bring Bitcoin above $100,000, some analysts have suggested. Cryptocurrency analyst Cryptokea recently noted that the worldwide Google Trends, for the search term âBuy Bitcoinâ have recently hit a seven-month high â the highest since June 2019.
In other Crypto news today:
A popular crypto strategist, who says Bitcoin will likely hit $50,000 to $100,000 by 2021 is analyzing the risk of a âdeath spiralâ that could thwart his prediction.
The anonymous analyst known as PlanB is pondering whether the upcoming halving â which will slash the amount of BTC miners earn for processing transactions in half â will convince miners to switch off their rigs en masse.
The scenario could, in theory, start a so-called miner death spiral that increases Bitcoin confirmation times, lowers confidence in the network, and drags down the price of the leading cryptocurrency.
PlanB says he believes the risk of a death spiral is âeffectively zeroâ due to a built-in feature on the Bitcoin network that automatically adjusts how much computing power is required to process transactions.
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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:
æ°ćčŽćż«äč The year of the rat starts this weekend. Time for #Bitcoin volatility and volumes to nose dive.
â Arthur Hayes (@CryptoHayes) January 23, 2020
IMO co-integration between #bitcoin price & stock-to-flow means all network effects march lockstep: Investors, Speculators, Merchants, Consumers, Miners and Developers together ⊠demand & supply, like clockwork! pic.twitter.com/7Ozq2Y9eVd
â PlanB (@100trillionUSD) January 5, 2020
Do you think May 2020 #bitcoin halving of miner reward will cause a mining death spiral or miner capitulation?
â PlanB (@100trillionUSD) January 22, 2020
1/ Googling for “Buy Bitcoin” just reached a 7 months high (Score 9). The long-term upwards trend is undeniable. The last time the score reached a 10 was:Nov ’13 (bull top),May ’17 (price on parabolic run-up),Jun ’19 (medium-term top)
>Feb ’20 (price on parabolic run-up?) pic.twitter.com/tkdXIEvM3Q
â CryptoKea (@CryptoKea) January 20, 2020
Key Google Metric: Bitcoin May Explode Into $100,000 Parabolic Rally
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MAX KEISER SAYS BITCOIN WILL SKYROCKET 40-80X WHILE WARREN BUFFETS WEALTH HYPERINFLATES TO NOTHING!!
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People with zero Bitcoin exposure like Warren Buffett will see their wealth hyperinflate to nothing while the BTC price skyrockets 40-80x, says Max Keiser.
Popular TV host and long-time Bitcoin proponent Max Keiser believes that futures traders suppress the Bitcoin price at current levels.
However, once the asset explodes to Keiserâs intermediate target at $28,000, the BTC amount for sale will evaporate as governments and institutions will purchase directly from miners.
Keiser recently tweeted that âthe (temporary) Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000.â
CryptoPotato reached out to the popular TV host to elaborate on his views regarding the price suppression and potential surge in value.
Keiser asserted that âfor the worldâs poor, the current price and availability of BTC are a once in a species-existent opportunity to acquire unconfiscatable Hard Money before a 40-80x move on the upside.â
He commented that his âforensic analysis of the BTC market, corroborated by insiders, is indicating futures traders are suppressing the price of BTC to give institutional players a chance to load the boat.â
He also gave his intermediate price target of $28,000 per coin. Once the cryptocurrency reaches that level, it would be a significant game-changer for peopleâs perception of the asset.
âWhen this happens, weâll see something quite unexpected. The retail market for BTC will dry up. The amount of BTC for sale AT ANY PRICE will be increasingly tiny. Institutions, corporations, and governments will be buying BTC directly from miners, presumably at a huge premium.â
Keiser, who previously said that Warren Buffet will start panic buying Bitcoin when the asset price jumps to $50,000, said that people like the prominent investor, who have no Bitcoin exposure, will see âtheir wealth hyperinflate to nothing.â
Itâs no secret for the community that Buffett isnât a fan of the primary cryptocurrency..
He once called Bitcoin ârat poison,â and even a charity launch with TRONâs Justin Sun couldnât change his mind.
Shortly after the event, Buffett insisted that BTC has no value âand never will.â
However, Buffett recently purchased a massive share in a mining company producing gold while reducing his exposure in significant banks such as JPMorgan Chase and Wells Fargo.
Keiser believes that those who had taken a similar path and purchased gold and silver will be less impacted.
Nevertheless, even gold holders âwill see their wealth take a relative nosedive against investors that are 100% BTC.â
In other trending Bitcoin News today:
Even The Rothschildâs Are Buying Bitcoin; Grayscaleâs Holdings Surpass 450k BTC
The Rothschild Investment Corporation has bought 27 bitcoins in share form through Grayscale Bitcoin Trust (GBTC).
GBTC itself added another 6,937 BTC (worth $72 million) in the past few days after reporting the third straight record quarter with inflows reaching $1 billion.
As of Sept. 2020, Grayscaleâs bitcoin holdings reached 450k BTC, representing nearly 2.5% of all Bitcoin supply, as per YCharts.
Rothschild reportedly has $1.4 billion in assets under management, with $235,000 of it held in Bitcoin.
This makes them one of the most prominent investment banks to get into bitcoin, which is most likely for their clients.
Other big names like Rockefellers began investing in blockchain and crypto startups back in 2018.
Blackrock, with $6.3 trillion assets under management, also started considering diversifying into crypto the year following the bitcoin price top.
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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:
There is strong evidence to suggest #Bitcoin futures traders are manipulating BTC down to give institutions a chance to load up on physical BTC cheap before the break to $28,000
â Max Keiser (@maxkeiser) October 16, 2020
The (temporary) #Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000
â Max Keiser (@maxkeiser) October 16, 2020
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