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Silk Road Whales Move Millions In BTC Via Bitcoin Tumbling Service

Silk Road Whales Move Millions In BTC Via Bitcoin Tumbling Service
According to new reports, the accounts of Ross Ulbricht, the creator of the dark webs Silk Road may have seen some significant whale like movements. Though we can’t guarantee that the accounts in question belong to Ulbricht, many fingers are now pointing in that direction. This comes as around 111,000 BTC and BCH has been transferred across 80 wallets. The moves are alleged to have been spotted by social media users after funds were seen to have left the prolific 1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a wallet address. This address is most known as an address that is well associated with Dread Pirate Roberts, the alias for a silk road operator, therefore we are pretty sure that at the very least, this has something to do with some sort of prolific silk road figure. In July 2011, one of the first transactions to reach this address linked back to a confirmed address of Ross Ulbricht, according to Crypto Globe:
“The address first received funds on July 2, 2011. One of the very first transactions adding funds to it links back to another well-known address, that of alleged Silk Road operator Ross Ulbricht. The address had been leaked on the Bitcointalk forum, in a post where Ulbricht himself, under the nickname ‘altoid’ asked for help using the bitcoin API with PHP.”
Most interestingly:
“This could mean the address belongs to Ross Ulbricht himself, but transaction dates don’t add up. Ulbricht was arrested on October 2, 2013 for allegedly running the Dread Pirate Roberts account, administering the now-defunct Silk Road marketplace on the deep web.”
Now it seems that the movements recently spotted could have taken place via a Bitcoin tumbling service, a system designed to mix up transactions in order to hide the true outcome of transactions on the blockchain. It’s the sort of thing used within illicit transacting in order to mask transactions. What will happen with these funds now? Obviously, there’s know way of knowing if this is Ulbrichts fortune. As you may know, he’s still in prison so it’s unlikely that he’s made these moves himself, though, Ulbricht does have a very strong community following and a family that may have been trusted with access to his funds. Either way, as according to Crypto Globe:
“None of the over 80 wallets in which 1933 has its funds seem to be sending money to known cryptocurrency exchange addresses. While this implies the funds aren’t being sold anytime soon, merging the funds into addresses with larger amounts shows the individual is either ready to do something with them or is moving to a more secure setup.”
It seems that these transactions have been made in an attempt to prepare for the future and as it stands, these funds aren’t going to hit any major exchanges anytime soon. Therefore this is a big whale movement, that isn’t set to impact the markets any time soon, or for the time being at least. References Crypto Globe

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BTC/USD Trapped By Moving Averages: Sally Ho's Technical Analysis 29 November 2020 BTC

BTC/USD Trapped By Moving Averages:  Sally Ho's Technical Analysis 29 November 2020 BTC

Bitcoin (BTC/USD) traded sideways early in today’s North American session as the pair appreciated to the 18248.21 area trading as low as the 17535.26 area in the Asian session, with the intraday low representing a test of the 38.2% retracement of the recent depreciating range from 19500 to 16200.  Traders observe that BTC/USD’s upside was capped by the 200-hour simple moving average during the European session, and supported around the 23.6% retracement of the depreciating range from 18980 to 17610.77 early in the North American session.  Also, the 50-bar 4-hourly simple moving average provided technical resistance during the North American session, and the intraday high also represented a test of an upside price objective around the 18256.14 area.  The pair stopped short of testing the 15808.49 area during the recent move lower, representing the 23.6% retracement of the wide appreciating range and absolute 2020 range from 3858 to 19500.  Significant Stops were elected during the decline including below the 18605.14, 18275.16, 18016.74, 17604.12, 17517.42, 17156.69, 17099.13, 16905.00, 16603.10, 16357.50, and 16292.58 levels.  If the pair is able to resume its upward trajectory and establish a new all-time high, traders are carefully monitoring the 20311.36 and 21909.24 areas as upside price objectives.  Similarly, the 20534.46 area is an upside price objective related to buying demand that originated earlier this year around the 6854.67 area. 

Traders will pay close attention to some potential areas of technical support during pullbacks lower and these include the 16092.69 and 15935.90 areas.  Notably, the 15935.90 and 16304.69 areas represent the 76.4% and 78.6% retracements of a historical depreciation from 19891.99 to 3128.89.  Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 18204.22 and the 200-bar MA (Hourly) at 18235.20.

Technical Support is expected around 16200/ 15996.17/ 15479.66 with Stops expected below.

Technical Resistance is expected around 19500/ 20311.36/ 21909.24 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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Logic invests in BTC and seems to have made a hefty profit already

Logic invests in BTC and seems to have made a hefty profit already

Quick take

1 minute read

  • Could he have registered a $2 million profit already?

Sir Robert Bryson Hall II, or as you probably know him - Logic, recently posted a video to his Instagram story saying that he bought $6 million worth of bitcoin last month.

He said YOLO during his video but it seems that his investment could turn out to be an interesting financial move.

If by “last month“, the rapper means the 31st of October or before, Then that means his $6 million investment would have been bought at a price of around $13,800. This equates to just over 430 bitcoins and if that is correct, he would register a profit of around $2 million going off today’s prices.

This comes after the Game of Thrones actress Maisie Williams questioned her followers on Twitter earlier this month asking whether she should go “long on bitcoin“. Of course, she followed up with another tweet later in the day saying that she had sunk some of her money into the asset.

For Logic, he has more than likely registered a high profit from his investment back in October, if that is indeed when he actually made the move to trade in the asset.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Selling your car for bitcoin: Jason Williams of Morgan Creek digital pawns off his old Chevrolet for the leading coin

Selling your car for bitcoin: Jason Williams of Morgan Creek digital pawns off his old Chevrolet for the leading coin

Quick take

1 minute read

  • How far would you go to obtain bitcoin?
  • Jason Williams of MCD cells his Chevrolet to invest in bitcoin.

Momentum for bitcoin and the overall crypto space is definitely on the rise this month. Following the United States presidential election, much more retail and institutional investors have been drawn to the industry.

This is evident from the co-founder of Morgan Creek digital, and Jason Williams he has recently sold his car to invest in the leading coin.

Posting to Twitter earlier this month, Williams said that he sold his 2007 Chevrolet Suburban for 0.4 bitcoins. At the time of writing, this is about $7300.

Bitcoin has been on the rise massively throughout November and it only seems that it is going to keep ongoing. That being said, it is always worth doing your own research into cryptocurrency as we are not financial advisors and this is not financial advice.

Many are predicting that bitcoin is well on the way for a massive breakout and if this comes to fruition, Williams could be seeing massive profits from selling his old Chevrolet.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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BTC/USD Facing Challenge at 17850: Sally Ho's Technical Analysis 28 November 2020 BTC

BTC/USD Facing Challenge at 17850: Sally Ho's Technical Analysis 28 November 2020 BTC

Bitcoin (BTC/USD) glided higher early in today’s North American session as the pair appreciated to the 17444.88 area trading as low as the 16880 area in the European session, with the intraday high representing a test of the 100-bar 4-hourly simple moving average.  Traders are carefully monitoring how BTC/USD will trade around important historical upside price objectives that were absorbed during the pair’s recent climb near its all-time high, including the 17657.16, 17891.76, 18256.14, and 18946.91 areas.  The pair stopped short of testing the 15808.49 area during the recent move lower, representing the 23.6% retracement of the wide appreciating range and absolute 2020 range from 3858 to 19500.  Significant Stops were elected during the decline including below the 18605.14, 18275.16, 18016.74, 17604.12, 17517.42, 17156.69, 17099.13, 16905.00, 16603.10, 16357.50, and 16292.58 levels.  If the pair is able to resume its upward trajectory and establish a new all-time high, traders are carefully monitoring the 20311.36 and 21909.24 areas as upside price objectives.  Similarly, the 20534.46 area is an upside price objective related to buying demand that originated earlier this year around the 6854.67 area. 

Traders will pay close attention to some potential areas of technical support during pullbacks lower and these include the 16092.69 and 15935.90 areas.  Notably, the 15935.90 and 16304.69 areas represent the 76.4% and 78.6% retracements of a historical depreciation from 19891.99 to 3128.89.  Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 100-bar MA (4-hourly) at 17450.09 and the 50-bar MA (Hourly) at 17224.83.

Technical Support is expected around 16200/ 15996.17/ 15479.66 with Stops expected below.

Technical Resistance is expected around 19500/ 20311.36/ 21909.24 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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