‘Pumps On Twitter’ Moving Cryptocurrency Prices, Says CEO of Research Firm

Market sentiments primarily govern price movements in any market. In the case of financial equities, the traders have complete knowledge through a financial report. However, the lack of metrics and data points in cryptocurrencies has made it depend solely on social media sentiments.
Joshua Frank, CEO of The Tie, recently commented on these issues based on his firm’s research and online metrics. The Tie provides for research, analysis, and management help, along with trading services. The firms’ research on fake trading volume was instrumental is confirming Bitwise’s report.
Recently, the firm is exploring the effects of social media sentiments, specifically Twitter, on the price of cryptocurrencies. Joshua recently shared some of his insights in an interview, he said,
“The only thing that really moves cryptocurrency is still the wisdom of the crowd or pumps on Twitter.”
The number of crypto-related tweets has also seen a drastic change since Q1 of 2019. He reported that on June 26th, when Bitcoin reached its yearly high, the number of tweets exceeded 70,000. This is was last seen during the 2017 bull run. He said,
“Sentiments in and on itself predict the movement of the market. It is by far the best data point and best metric in crypto in order to explain all the movements or very significant percentage movements between the asset class.”
He took the recent example of the effect of the lunch postponement between Justin Sun and Warren Buffet. Tron plummeted almost instantly as the news started spreading. It went to the ultimate proportions when the Chinese media claimed that Justin might be detained in China for legal reasons. The price of Tron [TRX] exhibited the same roller coaster of sentiments through the days.
The number of tweets in Q2 was around 30,000 a day. In Q3 it is about 35,000. Since 2019, there has been a consistent rise in the tweet volume. He added,
“The continued increase in positive sentiment. Volatility and sentiment are at the lowest point in history. The sentiment is becoming increasingly and increasingly more positive.”
Moreover, as Bitcoin’s dominance is rising, the number same is replicated in the no. of tweets on it. The altcoins are being mentioned less. He pointed out that they are starting to witness a divergence between the tweets on altcoins and Bitcoins.
The research findings can be rather unsettling for a cryptocurrency trader. It essentially means that markets are only driven by hysteria and speculation. However, on the bright side, the sentiments have been mostly positive and spreading as well. Hence, it seems that crypto-markets still lack education and diligence.
What metrics would you suggest be made a standard for all cryptocurrencies to improve price discovery? Please share your views with us. 
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Source: CoinGape

Twitter’s Square Crypto is on Limelight Again as Facebook’s Libra Getting Mainstream Attention

In a much-debated Libra topic, the competitive social media giant Twitter is on the hype with its crypto-based project, called, SquareCrypto.
Of course, Facebook with its upcoming cryptocurrency, Libra is experiencing the rising concerns from global regulators – but at the center of every talk. it enhance its awareness of Facebook’s crypto among the people across the world. Besides, the key motive behind Libra that speaks “financing the unbanked and underbanked” has become one of the major interesting areas that attract a major audience to it.
On the other hand, the competitive social giant, Twitter is promoting its crypto-based project to the fullest potential. In fact, in its latest post, updated on July 15, Square Crypto begins its blog adding “Why just design a single company’s product when you can help design the future of money?”. Also, Square crypto shared a tweet that reads; “we go mainstream when bitcoin stops being a community and starts being a necessity”. The complete tweet goes as follows;

Companies whose futures depend on the success of bitcoin should create roles that deal exclusively with making the case for mass adoption to the general public. We go mainstream when bitcoin stops being a community and starts being a necessity. 🌚
— Square Crypto (@sqcrypto) July 22, 2019

Besides, SquareCrypto’s tweet received quick attention from the community, including Bitcoin Magazine and Blockstream’s CSO Samson Mow who in return responded by saying; There is no community, just users. Further by referring to Share of Voice and Gold, Samson Mow writes;
And as an SoV it won’t go mainstream, just like how gold is not mainstream. Layer 2 tech innovation is what will take Bitcoin mainstream.
Former Google Director Joined SquareCrypto
Nevertheless the vision behind SquareCrypto, by a payment firm, Square is quite clear – a platform dedicated to building a small team to help with bitcoin and crypto development. According to the latest report, Jack Dorsey who is the CEO of Twitter confirmed that they had recently hired former Google director Steve Lee to spearhead the team SquareCrypto after the constant review of tens of candidates for the post.

Hey guys. Management again. Unfortunately, things didn't work out with Gary. However, we think we've found somebody who can live up to his commitment to decentralization. Please welcome Steve Lee, aka @moneyball, to the Square Crypto team.
— Square Crypto (@sqcrypto) June 12, 2019

The giant further is in the process to hire up to three to four talents for “open source contributions to the Bitcoin and crypto ecosystem”, wherein the position is scheduled for fulltime, either remote or in Square’s SanFrancisco campus.
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Source: CoinGape

Donald Trump Likely Didn’t Cause Bitcoin Crash to $10,500: Analytics

Last week, the crypto market was blessed by a historical event: Bitcoin and Libra were both mentioned in name by the sitting American President.
Related Reading: Analyst: Bitcoin Could Hit $9,000 Should Bearish Breakdown Occur; Here’s Why
In a three-part thread, Donald Trump lambasted cryptocurrencies as a whole. Per previous reports from NewsBTC, the American leader tried to dismantle the value proposition of not only decentralized cryptocurrencies — such as and namely Bitcoin — but Facebook’s Libra too.
Trump quipped that he doesn’t believe that digital assets are money, adding that they are also known to be very volatile and “based on thin air”.  The President went on to argue that cryptocurrencies can and do “facilitate unlawful behavior”, citing its use in the drug trade and “other illegal activity”.
He even took some time to poke the Libra crowd, claiming that the association should abide by “all Banking Regulations”, and that the U.S. Dollar should be the world’s strongest currency.
As a result of this sudden tweetstorm, which many say would cement Bitcoin as “dangerous” in the eyes of millions, some began to run scared. In fact, some have suggested that the recent Bitcoin downturn to $10,500 is a result of Trump’s comments on cryptocurrency.
Trump Didn’t Trigger This Week’s Bitcoin Selloff
According to a report from crypto analytics startup The TIE, this isn’t the case.
The TIE acknowledges that Trump’s tweet regarding Bitcoin did spark increased conversations about this budding market, noting that in the hours after the message spread, tweets involving “BTC” moved from 35,000 to 50,000.
It was also noted that most of the talk involving the President’s thoughts on Bitcoin is “negative-leaning”, hinting that the tweet could have negative effects on the reputation of cryptocurrency in the public’s eyes.
However, the TIE concludes that “while Trump remains a hot topic in BTC tweets, at this point, he does not appear to have had a significant impact on the coin”.

Three days after Donald Trump's Bitcoin tweet, he continues to dominate conversations on twitter about the cryptocurrency. Trump remains the most used word in Bitcoin tweets. Tweets mentioning Trump and Bitcoin are slightly negative leaning now.https://t.co/unv25rqrcJ pic.twitter.com/Axeps7J3SN
— The TIE (@TheTIEIO) July 14, 2019

Still Long-Term Bullish 
While Trump’s thoughts regarding the nascent cryptocurrency space had seemingly no effect on short-term price action, analysts, like Fundstrat’s Tom Lee, suggest that the single Twitter thread poses a massive bullish catalyst for Bitcoin.
In fact, speaking to Yahoo Finance in a recent segment, Fundstrat’s resident cryptocurrency bull wasn’t shy to claim that Trump’s seemingly straight-out-of-left-field tweets about Bitcoin and its ilk could help BTC hit $40,000 in the near future.
Lee’s reasons to be bullish now include Trump’s tweets on top of growing institutional adoption and investment, dovish fiscal policy by central banks, and certain macroeconomic trends that should tactily scream “buy Bitcoin”.
And as covered by this outlet previously, anti-establishment proponent Max Keiser believes that Bitcoin could rally to $100,000 as a result of the tweet.
The RT contributor suggests that by tweeting anti-Bitcoin thoughts, Trump is opening the U.S. up to being proverbially “kicked” by foreign adoption of BTC and other cryptocurrencies.
That’s not all.
Jeremy Allaire, the chief executive of the Goldman Sachs-backed Circle, suggested that Trump’s tweets — yes, tweets — is potentially the “largest bull signal” for Bitcoin of all time.
While this may seem counter-intuitive, as Trump denouncing cryptocurrencies may actually trigger heavy-handed regulation, Allaire explains that this elevates cryptocurrency to the global stage.
No longer is Bitcoin an asset for the fringe. Now, it exists in the mainstream, as more likely than not, this single Twitter thread, exposed to upwards of 68 million Twitter users, will trigger global political and economic discussion on the matter. And by simple virtue of curiosity and the so-called “Lindy Effect”, this space could grow rapidly.
Featured Image from Shutterstock
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Bitcoin and Facebook’s Libra Сoin Trends on Twitter Emanate Predominantly from the U.S.

Bitcoin and Facebook’s Libra Сoin Trends on Twitter Emanate Predominantly from the U.S.
In accordance with recent twitter findings released by crypto expert analyst The TIE, posts devoted to Bitcoin and Facebook’s Libra have as of late been on the high side on Twitter in the U.S.
Bitcoin and Facebook’s Libra Сoin Trends on Twitter Emanate Predominantly from the U.S.

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Source: CoinSpeaker

Crypto Analyst Reminds Traders That It’s Buy The Dip Season in Bitcoin

Since the start of April 2019, there have been many changes occurring across the crypto market as Bitcoin surges once again. The bearish sentiment of the year prior turned into disbelief and soon after, into hope that another bull run has started to emerge out of the depths of the bear market lows.
As the market cycles from bear to bull trends, how traders and investors approach taking positions too should change, and one prominent crypto analyst and trader is taking the opportunity to reminder crypto investors that when it comes to Bitcoin, it’s “buy the dip” season, and that shorting any bounces is a “risky” strategy to take.
Retracement, Not Reversal: Crypto Analyst Highlights Market Sentiment Shift
Now that Bitcoin’s parabolic rally has started to pull back, the sentiment across the crypto market has once again flipped from bullish to bearish in short order. But before the bears go ahead and put in that short order, they may want to reconsider, according to one prominent crypto analyst.
Related Reading | Only 3 Months Exist Where Buying Bitcoin Resulted in Losses 
Crypto analyst GalaxyBTC, tweeted a public service announcement reminding crypto traders and investors that the market has changed, and so should trading strategies.

Surprised on how bearish the sentiment is on this correction of a strong uptrend
People are actually waiting to short the bounce
Extremely risky play and the price could turn to the upside any moment, strong and fast, as it did before
This is a retracement not a reversal$BTC
— Galaxy (@galaxyBTC) June 5, 2019

According to the analyst, those that are looking to short any bounces occurring in Bitcoin price charts at support levels, are making an “extremely risky play.” Given how powerful Bitcoin can rally during bull markets, the trader reminds investors that the price “could turn to the upside any moment, strong and fast, as it did before.”
During bear markets, traders are encouraged to short every bounce at support, and sell into resistance. The opposite is true for bull markets, where “buying the dip” is the recommended strategy.
Many traders that got into the crypto market following the 2017 hype bubble have only known bear market, and may struggle to shake their bearish trading strategies. As the market cycle begins to change from bear to bull, traders should take a second look at the strategies they have become familiar with over the course of the last two years.
Bull markets move fast and violently, and most typical corrections in Bitcoin during a bull market have resulted in corrections of up to 30%, before propelling further upward once the previous level has been reclaimed.
Related Reading | Buy Bitcoin: Why Dollar Cost Averaging Is the Crypto Investor’s Best Bet 
At the time of this writing, Bitcoin’s parabolic curve has yet to be violated, which could result in further upward momentum before finally providing traders with a 30% or more correction for dip-buying. The current correction only sits at around 20% decline, and past bull market results suggest we could have further to fall before Bitcoin resumes its climb higher. Whichever way Bitcoin goes next, investors are advised to buy the dip, whenever that finally occurs.
Featured image from Shutterstock
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Perfect Online Privacy in 3 Simple Steps

Perfect Online Privacy in 3 Simple Steps
Crypto exchanges get hacked. Data vaults get breached. It’s just a matter of time when cryptos of those disregarding principles of online privacy will belong to hackers. Check out three simple steps to protect your assets.
Perfect Online Privacy in 3 Simple Steps

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Source: CoinSpeaker

Twitter CEO’s Square Crypto on Fire To Boost Bitcoin Adoption ‘Inevitable’

Is Facebook’s escalating effort in crypto industry hitting its competitor, Twitter.? Well, Twitter CEO Jack Dorsey is eagerly stepping ahead with his Square crypto project.
Jack Dorsey who earlier claimed that he owes enough Bitcoin, is all set to rule the mass bitcoin adoption. Square, a payment business by Jack Dorsey entered into a crypto era with a project name called ‘Square Crypto’ back on March 20, 2019, just two months back. With that, the Square CEO Jack Dorsey had also announced its open hiring for four engineers and one designer ‘to work full-time on open source contributions to the bitcoin/crypto ecosystem’.
It’s been over 2 months from today that Dorsey proposed his view of hiring a couple of engineers and designer – on May 21, 2019, Square Crypto again released a short yet crucial tweet adding that ‘they’re close to making their first hire’. Square Crypto reads it as follows;
Image source – Twitter
The long-term vision of Dorsey with his Square Crypto has been to improve the system than to make money. Nonetheless, Dorsey at the time of the announcement on March 20, 2019, stated that the project is open source contributions to bitcoin/crypto ecosystem. As such proposed opportunities given to 3-4 engineers and 1 designer were offered rights to work from anywhere and expected to directly report to Dorsey. In addition, these employees will be paid in Bitcoin.
Square Crypto as defined by Dorsey on March 20 reads as follows;
This will be Square’s first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free.
Nothing more than a tweet by Dorsey’s Square Crypto is exposed – neither by Square Crypto nor by Jack Dorsey. It’s worth to mention that the Dorsey in early Feb 2019, invested $2.5 million in Lightning Labs, a startup co-founded by Elizabeth Stark. Noting such huge funds invested in Lighting labs, many perceive Dorsey’s next plan with Square Crypto is likely related to Lightning Network.
Image source – Twitter
Ahead of Twitter, Facebook with its crypto project Libra often appears on top bulletins these days. On top of all, the surging volume of Bitcoin in the year 2019 certainly influenced these social media networks to boost up their crypto projects to the next level.
Also read – Facebook Cryptocurrency Project ‘Libra Networks’ Opens Office in Switzerland
So readers, what’s your take on Square Crypto Project.? Let us know your view on Facebook and Twitter’s involvement in the crypto industry so far.
Image source – TED
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Source: CoinGape

Bitcoin Mass Adoption is ‘Inevitable’ as Square Moves Closer to Its Crypto Project Launch

Bitcoin Mass Adoption is ‘Inevitable’ as Square Moves Closer to Its Crypto Project Launch
Square said they plan to “improve money” through their Bitcoin and crypto development, while Square Crypto is poised to hire its first dedicated employee, with many cryptocurrency investors hoping Square will lead a wave of fresh bitcoin adoption.
Bitcoin Mass Adoption is ‘Inevitable’ as Square Moves Closer to Its Crypto Project Launch

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Source: CoinSpeaker

Bitcoin Bulls Are Back: 40 Days of Uptrend Erases Nearly 8 Months of Bear Market

As the bullish Bitcoin rally continues and shows no signs of slowing, the entire crypto market has erupted with charts, thoughts, and speculation.
The powerfully bullish price momentum has caused much FOMO across the space and has helped carry the price of the leading cryptocurrency by market cap upwards towards $8,000, after breaking through $6,000 – resistance that was expected to be incredibly difficult to break – and $7,500 like a hot knife through butter. The parabolic uptrend that reenergized the crypto market has now in just 40 days of bullish price action, erased all of the damage done in nearly 8 months of bear market.
“Mental” Large Scale Bitcoin Price Recovery Undoes 8 Months of Bear
According to prominent cryptocurrency analysts GalaxyBTC, the last 40 days of bull market – if we are indeed in the midst of a bull market – has been enough to completely erase full 235 days of bear market, or nearly eight full months of bearish sell pressure deleted in just over a month of buying.

The large-scale price recovery is mental.
235 days of bear market already erased in the last 40 days of bull.
And this time without massive media coverage, ico craze or heavy dumb money flowing in.
Just pure fundamentals. #bitcoin pic.twitter.com/shv4fRPHIS
— Galaxy (@galaxyBTC) May 12, 2019

The early April rally that sent the price of Bitcoin climbing $1,000 within an hour took a short pit stop between $5,000 and $5,800 before breaking through $6,000 and swiftly climbing higher to just under $8,000 – the next resistance level Bitcoin is currently flirting with.
Related Reading | Bullish: Crypto Community In Shock Over Recent Bitcoin Price Resilience
The rally from $4,200 to current levels, undid nearly eight months worth of bear market, dating back as far as August 2018.
The analyst points out, what makes this rally more interesting is the lack of media frenzy, ICO craze, or “dumb money” flowing into the crypto market, driving up prices, as was seen at the end fo the 2017 hype bubble that led Bitcoin to its all-time high of $20,000 per BTC. Much of the buying is said to be the result of institutional interest increasing, and systematic buying from “smart money” and other major players who have been accumulating Bitcoin since yearly lows were set.
Since the yearly low was set back in December 2018, the price of Bitcoin has more than doubled in value, suggesting that the bottom has indeed been set, and that Bitcoin has exited accumulation into the next bull run and market cycle.
Related Reading | Crypto Analyst: Bitcoin MACD Histogram More Extended Than During Previous Bull Cycle
Most didn’t expect Bitcoin to reach current heights so soon after printing yearly lows and after the longest bear market on record. What started as a disbelief rally has gone full parabolic, and already has many revisiting past price targets well above Bitcoin’s last all-time high of $20,000, with many suggesting a new all-time high could be set before the end of the year given the FOMO felt across the global crypto market.
Featured image from Shutterstock
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Square Cash App “Absorbing” 10% of Bitcoin Supply Daily, 200% Projected By 2020

One of the most interesting and advantageous design aspects that pseudonymous creator Satoshi Nakamoto built into Bitcoin, was the “halving” – a pre-programmed point in time in which miners receive a reduced block reward of BTC for confirming transactions on the network. Each halving event has been preceded by a major price surge in anticipation of the asset’s balance of supply and demand being thrown off. Some economists even believe that it’s the reason why Bitcoin is the fastest rising valued asset of all-time.
A new earnings report from payments processing app Square Cash, which rolled out Bitcoin buying to their uses at the end of 2017 and into the start of 2018, suggests that the company is now responsible for “absorbing” as much as 10% of the current BTC supply mined each day. Furthermore, the growth trajectory of the company’s Bitcoin sales could bring the app’s impact on the BTC supply to new heights, responsible for users buying double the daily supply mined of Bitcoin by the next halving, or 200%.
Square Cash Takes 10% of Mined BTC Supply, On Track for 200% By Next Halving
Jack Dorsey, founder of the social media platform Twitter and Square, Inc. – the payments processing company behind the cash app – is among Bitcoin’s biggest bulls. The entrepreneur believes that the first every cryptocurrency has a strong chance of becoming the world’s global currency for the internet, and is doing all he can to support the leading crypto by market cap on its journey toward realizing its full potential.
Related Reading | Economist: Bitcoin Is The Fastest And Highest Rising Value Asset Ever
The Bitcoin supporter launched sales of the digital asset to users of the Square Cash app at the close of 2017, and further rolled it out to more users at the start of 2018. Since then, the app has grown Bitcoin-related revenues month-over-month, and is now responsible for “absorbing” 10% of the daily BTC supply mined by miners across the globe.

It looks like @Square is now absorbing more than 10% of all BTC mining supply on a daily basis. That is damn impressive, and shows how much people #stackingsats can add up! https://t.co/yoy2GROJnN
— Ben Davenport (@bendavenport) May 1, 2019

Square Cash Impacting Supply: Is This Jack Dorsey’s Plan to Help Bitcoin Succeed?
With one single app offering Bitcoin as an afterthought having such an impact on the BTC supply, it highlights the scarcity of the digital asset and gives a glimpse into what the next halving could mean for that supply and its balance with demand. Each halving diminishes the BTC supply by 50%, which would automatically bring Square Cash’s impact on the BTC supply to 20% without any further growth.

If BTC sales on Square Cash maintain current growth rates, then by the next Bitcoin halving (May 2020), roughly 2 BTC will be purchased on Square Cash for every new BTC that is mined. pic.twitter.com/GPxXhaGK15
— Yassine Elmandjra (@yassineARK) May 1, 2019

But Square Cash shows no signs of slowing its growth, and Bitcoin awareness has only increased since the hype bubble in 2017 popped. If Square Cash maintains its current growth trajectory of Bitcoin sales, the app is set to syphon as much as 200% of the Bitcoin supply generated by miners each day by the next halving, which is currently scheduled for May 2020.
Related Reading | Jack Dorsey Wants to Help Get Bitcoin Adopted as a Global Means of Payment
With double the Bitcoin being sold to Square Cash app users alone than is unlocked by Bitcoin miners, the demand of Bitcoin will begin to greatly outweigh supply, and cause the value of the asset to set new all-time highs.
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Crypto Traders Split 50/50 On Where Bitcoin Price Goes Next: $6K or $4200

At the start of April, Bitcoin rallied over $1,000 in the matter of an hour, giving crypto investors their first taste of bullish momentum since the start of 2019. The rally was enough to cause traders and analysts alike to call the bottom as “in” and claim that a new uptrend was confirmed.
However, breaking news last week that the New York Attorney General’s office is accusing Bitfinex of using Tether reserves to hid a loss of $850 million has caused much panic across the crypto space. The same traders that were once calling for Bitcoin to test resistance at $6,000, are now also calling for a retest of resistance turned support at $4,200, back where the early April rally began. And according to a new poll, crypto investors are now equally split as to where Bitcoin might head next: $6,000 or $4,200.
Poll Results Reveal That Bitcoin Traders Are Equally Split on Bitcoin Price Targets
Read any crypto community forum, group, or social channel and there is no shortage of crypto traders genuinely confused about the current price action, and which direction Bitcoin will go next.
After the longest bear market on record, recent Bitcoin and crypto investors have taken a beating, and have been conditioned to anticipate a fall in price following a rally. The market sentiment is normal following a bubble burst, and confirms the market is in what’s called the “disbelief” phase.
Related Reading | Bitcoin and Crypto Investors Are Torn Over Using Bitfinex After Accusation
The uncertainty surrounding Tether and Bitfinex, which could have have significant impact on the overall market integrity should the parent company of both becomes insolvent or is shut down the by New York AG’s office. The fears have stopped Bitcoin’s April rally in its tracks, and now crypto traders who were once bullish and calling for $6,000 are now suggesting that Bitcoin will need to retest resistance turned support at $4,200 before healthy upward movement can continue.
While most of the market was bullish, the market is now equally divided as to where Bitcoin price will go next. The sentiment can be visualized using a Twitter poll shared by crypto trader Bagsy, who asked the crypto Twitter community which of the two prices would come first: $4,200 or $6,000.

Which comes first for $BTC ?
— Bagsy (@imBagsy) April 28, 2019

Surprisingly, even with over 6,000 votes on the poll, respondents were equally split down the middle, with 50% voting on each option. With crypto traders so torn on price direction, one side of the argument is bound to be in for quite a shock when the price of the leading cryptocurrency goes counter to the direction of their choosing.
Related Reading | Next Big Move For Bitcoin Price: Will The Infamous Golden Cross Fakeout Strike Again?
The sentiment could also be viewed as positive, as prior to the recent Bitcoin rally, most bears were calling for sub-$3K prices as the Bitcoin bottom, but now even the most bearish of traders are warming up to the idea that the bear market has ended.
Featured image from Shutterstock
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Bitcoin and Crypto Investors Are Torn Over Using Bitfinex After Accusation

This week, the New York Attorney General’s office accused Bitfinex of covering up an $850 million loss at the hands of its payments processing partner Crypto Capital, by syphoning money from Tether reserves. The news was enough to send the prices of Bitcoin and other crypto tumbling as much as 7 or more percent on the day, and nearly erased the bullish sentiment the market had been experiencing since the start of April.
Despite the widespread fears and general unease surrounding Tether and Bitfinex, Bitcoin and crypto investors are divided as to if they should plan an exit from the exchange, according to the results of a new Twitter poll shared by a crypto analyst.
Bitfinex Users Are Divided: Half Are Fleeing, Half Are “Not Worried”
As could be clearly seen via confirmed blockchain transaction data, crypto investors began fleeing Bitfinex en masse following the news that the New York Attorney General’s office had accused the exchange of covering up an $850 million loss.
Fears ran amok last week as crypto market participants worried about the structural integrity of the market, concerned it may be artificially propped up by Tether. The FUD was enough to cause the price of Bitcoin, which has had a powerfully bullish April, to fall 7% in a matter of minutes before consolidating further under previous support turned resistance.
Related Reading | Tether Turmoil Twist: Stolen Reserves Proves Crypto Stablecoin Was Once Backed
Despite the fears, crypto investors appear to be divided on if getting their funds off of Bitfinex is a wise idea or not, according to data from a new Twitter poll shared by TradingView top author MagicPoopCannon.

To everyone who has funds on Bitfinex, have you withdrawn or will you withdraw (if you can) all of your funds?
— MAGIC (@MagicPoopCannon) April 28, 2019

In the poll, the active trader asked if users with funds on Bitfinex would get their funds off the exchange as soon as possible, or which of those were “not worried” at all about the potential risk. Of the respondents, only 56% said they’d be “leaving Bitfinex” while the remaining 44% said there wasn’t anything to worry about.
Current Price Action Doesn’t Matter If Bitcoin Reaches Investor’s Lofty Expectations
MagicPoopCannon in the past has shared other Twitter polls, including one where the trader asked where crypto investors see the price of Bitcoin in the future, long-term. The results suggest that the current price action in Bitcoin price charts matters very little in the grand scheme of things – that is if Bitcoin lives up to the expectations of market speculators.
Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term
According to the poll results, most crypto and Bitcoin traders expect the price per BTC to reach over $100,000 to “millions” in the long-term, suggesting that Bitcoin will easily beat its previous all-time high of $20,000.
Bitcoin’s potential isn’t fully understood or yet realized. Some day, Bitcoin given its scarce supply, if it ever becomes a mainstream currency, could reach those somewhat unbelievable price targets.
Featured image by Shutterstock
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Crypto Twitteraties Demand @Bitcoin Twitter Account Suspension, Twitter CEO Responds Quickly

Although Satoshi’s identity is a still mystery even if Craig Wright is continuously striving, Crypto twitteraties demands suspension of @Bitcoin Twitter account.
Should @Bitcoin Twitter Account be suspended?
While Satoshi Nakamoto is famously known as the creator of Bitcoin but remained anonymous to the whole world, the Crypto community on Twitter is talking tough on how should ‘Bitcoin’ Twitter account be treated? As such, self-claimed Bitcoin educator ‘Jimmy Song’, took to Twitter and created a poll, asking ‘The @bitcoin account should be’ with four options that say either left alone, suspended for fraud or shadowbanned and other.
The poll bagged 6062 votes and among four options ‘suspended for fraud’ ranked 54%, higher than rest three options.
Source: Twitter
Nevertheless, the poll is then followed by leading Twitter accounts such as Whale Panda which currently has 215.8K followers and one of the famous profile in crypto Twitter. Whale Panda retweeted the poll stating that Bitcoin account should be suspended just like the Internet Account. It cites ToS as the account is sold against Terms of Service and claimed that it is actively defrauding people.
Source: Twitter
CEO Jack Dorsey’s Response
Nevertheless, the account is closely related to Roger Ver, the founder of Bitcoin Cash. He also owns news.bitcoin.com which often shill Bitcoin Cash(BCH) and sources that supports BCH cryptocurrency. Moreover, @Bitcoin Twitter account also recently tweeting more about BCH and meantime criticizing the BTC networks’ problem. This gotten the attention of Bitcoin maximalists and one such BTC proponent, Zack Voell (often active on Twitter and an analyst for Messari Report) also voiced his concern on Twitter.
Source: Twitter
He also shared his and Twitter CEO Jack Dorsey’s private conversation screenshot (which is deleted now) – According to the screenshot, Dorsey asked ‘what do you recommend we do with it?’
Source: Twitter
Who Handles @Bitcoin Twitter.? Roger Ver?
Moreover, the report stated that the account has already been banned in 2018 and experienced ‘shadow ban’ earlier to this. However, it is still unclear who really handles @Bitcoin but many assume it as Roger Ver. Here is Roger Ver’s response when @Bitcoin was banned during April 2018.
Source: Twitter
Following the recent deplatform voice, @Bitcoin Twitter account officially released a couple of ‘back to back’ tweets to elaborate the whole scenario. One such tweet claim that Roger is not the one who is tweeting;
Source: Twitter
Moreover, Jimmy Song’s poll indicates users voice and demands this account should be suspended due to defrauding people. However, Twitter does delete any account for a common reason such as Spam, Account security at risk or if users have reported Twitter that it is violating its rules surrounding abuse.
So readers, do you agree with the poll result.? Do you think Roger Ver’s closely related @Bitcoin Twitter account Should be permanently suspended just like a @Internet account? Let us know in the comment below
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Source: CoinGape

Dogecoin’s [DOGE] Jackson Palmer takes a social media hiatus; deletes YouTube channel, goes private on Twitter

Twitter has been a platform for a lot of controversies in the cryptocurrency space, mainly because of clashes between proponents and discussions on the latest technological developments. The latest tectonic shift in the crypto Twitterverse was related to Jackson Palmer, the creator of Dogecoin [DOGE], and his actions on social media handles.
Eagle-eyed users noticed that Palmer first removed videos and other content from his YouTube channel, after which he made his Twitter account private. Though no solid reason can be attributed to the computer programmer removing his profile, some users online speculate that it was done after Palmer received a lot of backlash after a recent discussion.
Ar_crypto, a cryptocurrency enthusiast, commented:
“On Twitter, he had a skeptic – analytic position about cryptocurrency and blockchain and it was always refreshing to many, myself included, to listen to his opinion and for that he had many followers and he managed to produce a lot of quality conversation. But more recently he focused more on other issues like identity politics for which he got a lot of negative replies as one would expect. That probably influenced his decision to delete Twitter as well as the prevalent tribal mentality in many cryptocurrency communities.”
Palmer himself had given an explanation for deleting his YouTube channel, citing the reason as other users impersonating him online for nefarious activities. Palmer had been in the news earlier when he had exchanged notes with Elon Musk on Twitter about stopping bots spamming user’s feeds. In response to Musk’s request to get rid of the spammers, Palmer had tweeted:
“If you DM me (your DMs aren’t open), I’ll send you the script – it’s short, simple and you just run it with cron somewhere.”
The post Dogecoin’s [DOGE] Jackson Palmer takes a social media hiatus; deletes YouTube channel, goes private on Twitter appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Market Volume Gap Hints at Potential $70B Surge, Bitcoin price to $6K

As the crypto market begins to establish strong support and find its bottom, the influx of new capital is looming on the horizon, just waiting for Bitcoin price and the rest of its altcoin brethren to break upward into a new bull cycle.
When analyzing charts, traders have discovered a wide volume gap above overhead resistance that, if broken, should cause prices to skyrocket, quickly filling the volume gap. By the distance of the gap, some crypto analysts are able to potentially predict how much capital might flow into the total crypto market, and what that might mean for Bitcoin price.
Analyst: Not Unreasonable To Expect $70B Flow Into Crypto Market Cap
At the peak of the last bull cycle, the total crypto market cap reached well over $800 billion dollars, before Bitcoin’s parabolic advance was broken and crypto coins across the market all plummeted by as much as 80% or more.
Related Reading | Near Record-Breaking Low Volatility Could Precede a Bitcoin Bull Run 
When Bitcoin price fell from support at $6,000 back in November 2018, it dragged the entire crypto market down with it, causing a fall from roughly $200 billion, to roughly $100 billion total. After that, the total market cap has been held down by resistance at around $130 billion.

I don't think it unreasonable to suggest we might see $70b flow into $crypto by June. pic.twitter.com/T0fNiookbq
— The Crypto Dog (@TheCryptoDog) March 27, 2019

However, if that resistance were to break, one analyst believes that a surge of $70 billion in capital may be in the cards for crypto, as there is a significant volume gap between the strong overhead resistance and the next major resistance at previous support of $200 billion.
In financial markets, “playing the gap” is a common strategy for traders. Investopedia defines gaps as “areas on a chart where the price of a stock (or another financial instrument) moves sharply up or down, with little or no trading in between.”
Bitcoin Price Gap Projects Move to Nearly $6K
A similar gap is located on Bitcoin price charts, showing a distinct lack of orders in between the current range and the previous trading range above $6,000 where the leading crypto spend much of 2018.

Same gap occurs on BTC, closing at about $6k. pic.twitter.com/0qyxZTqV2b
— Nunya Bizniz (@Pladizow) March 27, 2019

The same gap is responsible for the sharp decline following the break of $6,000 support, which caused Bitcoin price to drop another 50% from its prior bear market low. Back in November 2018, Bitcoin cut through the volume gap like a hot knife through butter and put in what might end up being the bottom of the current bear cycle.
Related Reading | Economist: Bitcoin Is The Fastest And Highest Rising Value Asset Ever 
If Bitcoin breaks up from the ascending triangle formation it is in, and overhead resistance is also broken, a spike to $6,000 is a very real possibility. Such a move, could bring Bitcoin price into a new trading range, or if $6,000 is broken successfully, it could signal the end of the current bear market.
The post Crypto Market Volume Gap Hints at Potential $70B Surge, Bitcoin price to $6K appeared first on NewsBTC.
Source: New feedNewsBTC.com