The most popular cryptocurrency, Bitcoin’s (BTC) recovery was first anticipated when speculations related to the US Federal Reserve slowing down the hike rates came around the financial experts.Experts believed with inflation quieting down, BTC might see bullish trends rushing in.However, U.S.employment data for January 2023 revealed that unemployment is the lowest since May 1969, and this once again prompted negative sentiments across the crypto industry.Even though uncertainty is one of the underlying aspects of crypto, a quick price analysis can gauge the ongoing trends in the market.Let us see, what does the price analysis for Bitcoin and Ethereum (ETH) has to say about this.
Bitcoin (BTC) price analysis Bitcoin is currently trading at $23,392.11 after a gain of 0.22% in the past 24 hours.In the past seven days, the price has gone up by 0.74% and the market cap of BTC has reached US$450 billion.
Bitcoin first bounced off the $22,800 support level on February 01 indicating that this price zone had many buyers.As a result, investors caused a hike and the trading value reached above $24,000 on February 02 for a short time but the higher levels could not be maintained for long.The rise of moving averages and the relative strength (RSI) in the overbought zone, indicate that the path of least resistance is to the upside.If the price goes up to the current trading levels, BTC might even rise to $25,000.
Ethereum (ETH) price analysis Ethereum is currently trading at $1,668.76 after a gain of 0.68% in the past 24 hours.ETH has shown a jump of 4.69% in the past seven days and the current market cap has reached US$204 billion.
Investors pushed Ether(ETH) beyond the overhead resistance of $1,680 on February 02.However, the breakout didn’t stay for long and the price closed below $1,680.The upsloping 20-day Exponential Moving Average and the positive RSI imply that Ether bulls are in check.Investors might try to cross the overhead barrier at $1,680 and push the price to $2,000.As a result, the $1,800 level may cause some resistance but chances are, the prices may be crossed.The post What Does the Price Analysis for Bitcoin (BTC), Ethereum(ETH) Say? appeared first on Analytics Insight.$70.1 million FTX Debtors Demand Return Of Funds Given To US Politicians And Super PACs FTX debtors are seeking to claw back millions of dollars given to U.S.
political action committees (PACs) and political figures.Confidential letters have been sent to individuals and organizations, requesting the return of the funds by Feb.28, 2023.
Some bureaucrats, such as Democratic Senators Joe Manchin and Tina Smith, have already pledged the funds to charity.
It is uncertain whether they will be required by law to repay the funds to the now-bankrupt FTX estate.US Political Elite Under Pressure to Repay FTX Contributions Before Deadline It is widely recognized that lawmakers in Washington, D.C.and U.S.
political action committees received significant funds from FTX, its co-founder Sam Bankman-Fried (SBF), and top executives.Estimates indicate that SBF and the FTX team donated an estimated $90 million to U.S.
bureaucrats and political organizations since the exchange’s inception.For example, SBF and former FTX executives Nishad Singh and Ryan Salame donated roughly $70.1 million to the Democratic and Republican parties for the 2022 midterm election cycle.A press release, dated Feb.5, states that FTX debtors aim to retrieve funds distributed among Washington, D.C.’s political elite.The announcement reads, “FTX debtors are sending confidential messages to political figures, political action committees, and other recipients of contributions or payments made by or under the direction of the FTX debtors, Samuel Bankman-Fried, or other officers.” It also states that “recipients are requested to return the funds to the FTX debtors by Feb.
28, 2023.” FTX debtors specify that the funds can be returned through a designated email account by the specified date.The bankrupt estate states that it reserves the right to “initiate actions in bankruptcy court to demand the return of these payments, along with interest accruing from the date of initiation.” In addition to the press release from FTX debtors, the Twitter account “Unusual Whales” released a list of U.S.bureaucrats and political action committees that are believed to have received funding from SBF and top executives of FTX.“There was not a list of the politicians they gave money to, and the amounts, until now,” tweeted Unusual Whales.The information can be verified through the U.S.
Federal Elections Commission (FEC) and Coindesk’s research, which estimates that one in three members of Congress received funds from SBF or senior FTX staff.Prior to the press release and the release of the list of American politicians who accepted funding from FTX’s leaders, some bureaucrats chose to redirect the donations to charity.
For example, Republican senators John Boozman and Bill Cassidy announced their intention to donate the funds to charitable organizations.Democratic senators Joe Manchin and Tina Smith also donated funds to specific charities after the collapse of FTX.Smith, a Democrat from Minnesota, told the media she had “serious concerns about cryptocurrency and the financial risks it poses for retail investors.” However, during the election cycle, Minnesota representative Angie Craig and senator Tina Smith had no issues accepting $2,900 each before the exchange failed.It is unclear who directed these politicians or why they decided to donate the funds to charity instead of returning them to the bankrupt estate, which owes billions to the retail investors that these bureaucrats claim to care about.Tags in this story $70.1 million, $90 million, American politicians, Angie Craig, Bankruptcy, Bankruptcy Court, Bill Cassidy, bribes, Bureaucrats, Charitable organizations, Charity, co-founder, confidential letters, crypto lobbying, Cryptocurrency, D.C., D.C.’s political elite, Democratic Senators, Election Cycle, Estimated, Feb.28, Feb.
5, FEC, financial risks, ftx, FTX debtors, inception, Joe Manchin, John Boozman, lobbying, midterm election cycle, Minnesota representative, now-bankrupt FTX estate, one in three members of Congress, pledged, Political Corruption, political figures, political organizations, press release, Repay, Republican senators, retail investors, retrieve funds, return of funds, Sam Bankman-Fried (SBF), senior FTX staff, Tina Smith, Top Executives, U.S.bureaucrats, U.S.PACs, Unusual Whales, Washington What do you think about the move by FTX debtors to reclaim funds from U.S.political figures and action committees? Let us know what you think about this subject in the comments section below.
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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.A Bulgarian investor has lost a large amount of money to fraudsters who convinced him he was putting cash into cryptocurrency.The scam operated through a call center in what is becoming an established scheme for extracting money from victims lured with promises of quick profits on stock and crypto markets.Defrauded Bulgarian Crypto Investor Sends Money to Bank Accounts Across the World A businessman from Bulgaria has transferred over 1 million leva (more than $550,000) to scammers who suggested he could earn well from crypto assets, according to a report by the Bulgarian national broadcaster, BNT.
He was persuaded by a fake consultant to send the amount to accounts at different banks, from Europe to Hong Kong.
The investor was initially contacted by a call center operated by the fraudsters offering high yields on crypto investments.This communication went on for a while and they were able to convince him that he would triple his money in no time.When the man expressed interest in the proposition, he was transferred to an encrypted chat and set up with an online account.“The victim’s details – name and phone number – were most likely acquired from a platform he signed up to,” said Commissioner Vladimir Dimitrov, head of the cybercrime unit at the Interior Ministry’s General Directorate Combating Organized Crime.The businessman, whose identity was not revealed by the investigators, was then offered to make a small deposit of €250 which multiplied several times in a few weeks, in virtual assets.Later, he sent tens of thousands of euros to Polish, British, and a Chinese bank.
The call center from which the targeted person got the initial call in this case was most likely located somewhere in the Middle East, Bulgarian officials said.However, the country from which the organizers of the fraudulent scheme operated is yet to be identified.The scam is part of a recent criminal trend in Europe that entails using call centers to entice unsuspecting victims with non-existent opportunities to invest in shares of famous global companies or cryptocurrencies.In mid-January, authorities from Bulgaria, Serbia, Cyprus, and Germany, working with Europol and Eurojust, took down a network of call centers that “lured victims into investing large amounts of money into fake cryptocurrency schemes.” In September, last year, the Ukrainian police busted a similar criminal organization defrauding investors across Europe.Tags in this story Asia, Bulgaria, bulgarian, businessman, call center, call centers, China, Crypto, crypto investor, Crypto investors, Cryptocurrencies, Cryptocurrency, defrauded, EU, Eurojust, Europe, Europol, Fraud, fraud scheme, fraudsters, Hong Kong, Scam, scammers, uk Do you think this trend of scammers using call centers to extract money from potential crypto investors will continue? Tell us in the comments section below.Lubomir Tassev Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.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.crypto prices Top 10 Crypto Prices For February 6, 2023: India Could Introduce Cryptocurrency Measures This Year Analytics Insight has listed the top 10 current cryptocurrency prices for February 6, 2023 Indian finance minister says that crypto regulation will be discussed in her coming G20 meeting of central bank governors and finance ministers.Analytics Insight has listed the top 10 current cryptocurrency prices as of February 6, 2023.Bitcoin- US$22,782.28 (down by 2.61%) Ethereum- US$1,620.58 (down by 2.76%) Tether- US$1.00 (up by 0.01%) BNB- US$323.20 (down by 2.65%) USD Coin- US$0.9999 (up by 0.00%) XRP- US$0.398 (down by 2.79%) Binance USD- US$1.00 (down by 0.02%) Cardano- US$0.3904 (up by 2.07%) Dogecoin- US$0.09165 (up by 3.78%) Polygon- US$ $1.19 (up by 4.93%) According to CoinMarketCap, the total crypto market volume over the last 24 hours is US $49,414,697,206 experiencing a downfall of 2.69%.The post Top 10 Crypto Prices for February 6, 2023: India Could Introduce Cryptocurrency Measures This Year appeared first on Analytics Insight.
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