Bitcoin
Google searches have a correlation with the current Bitcoin prices

There is always a relation between bitcoin prices and Google searches. It’s difficult to state whether searches lead to more expensive rates or the other way around, yet the connection up to this point has been shocking.
Bitcoin searches on Google, for instance, between June 19 and June 26 have increased by over 158% as indicated by media investigation organization SemRush.
“We also identified that there’s an 80.8% correlation ratio between Google searches and bitcoin price,” from June 19 to June 26, wrote Olga Andrienko, head of global marketing at SEMrush. A 100% positive correlation means that two variables are moving in perfect tandem.
Bitcoin costs BTCUSD, +9.92% this week had been organizing an explanatory ascent toward $14,000, which would have spoken to a generally 40% week after week return on the No. 1 digital currency on the planet, until additions started to crumble late Wednesday.
Most as of late, bitcoin costs were down an agitating 22% on Thursday, or $3,150, to $10,700, as indicated by FactSet information, in view of bitcoin prospects BTCM19, +3.55% costs exchanging on CME Group.
Certainly, regardless of the dive, bitcoin costs are still up about 7.5% on the week and 194% in the year to date.
By correlation, the Dow Jones Industrial Average DJIA, – 0.04% is down 0.6% so far this week, with a year-to-date ascent of almost 14%. The S&P 500 record SPX, +0.38% is on pace for a 0.8% week after week misfortune and a 16.7% addition in the course of recent months, while the Nasdaq Composite Index COMP, +0.73% is on track to shed about 0.8%, with an over 20% increase so far in 2019.
All things considered, the drop for those new to bitcoin’s unpredictability must container regardless of whether the advanced money has been generally rising. Thursday’s decrease speaks to the third-most honed day by day fall for the advantage on record, as per Dow Jones Market Data
Volumes for bitcoin, in any case, are important. A 90-day moving normal of exchanging the computerized cash demonstrates that increases are a long way from the foamy action of 2017 or mid 2018 (see outline underneath). Bitcoin achieved a top in December 2017 at around $20,000 and tumbled to a nadir at $3,194.96, after a year.

Bitcoin
Former IcomTech CEO Admits Guilt in Cryptocurrency Ponzi Scheme

In a recent development, Marco Ochoa, the former CEO of IcomTech, has pleaded guilty to a conspiracy to commit wire fraud charge in the United States District Court for the Southern District of New York. This admission of guilt is tied to the infamous Ponzi scheme orchestrated by IcomTech during Ochoa’s tenure as CEO, which lasted from the company’s inception in 2018 until 2019.
The U.S. Department of Justice, in an official statement, revealed that IcomTech enticed investors with the promise of daily returns on investment products, all under the guise of being a cryptocurrency mining and trading enterprise. To attract unsuspecting customers, the company went to great lengths, including hosting extravagant expos and community events on a global scale. Additionally, IcomTech introduced its own digital token, known as an “Icom.”
However, the shocking truth emerged that the company did not engage in cryptocurrency mining activities as claimed. Worse yet, investors found themselves unable to access the profits they believed were accumulating in their accounts. This deceitful scheme eventually unraveled, leading to the company’s collapse in late 2019.
In the aftermath, legal charges were filed against Marco Ochoa and other high-ranking IcomTech executives in November 2022. As a result of his guilty plea, Ochoa now faces a maximum prison sentence of 20 years.
This latest revelation serves as a stark reminder of the importance of due diligence when investing in the cryptocurrency space. It highlights the need for investors to exercise caution and skepticism, especially when confronted with promises of unrealistically high returns. As the cryptocurrency market continues to evolve, staying informed and making informed decisions remains paramount to protect oneself from fraudulent schemes like the one perpetrated by IcomTech.
Bitcoin
Robert Kiyosaki’s Bold Prediction: Citibank Tokens vs. Bitcoin and the US Dollar

In a recent tweet that sent shockwaves through the cryptocurrency community, renowned author and financial literacy advocate Robert Kiyosaki ignited a spirited debate about the future of Bitcoin and the US dollar. The tweet read:
This bold statement has raised questions about the impact of traditional financial institutions like Citibank embracing blockchain technology and its potential implications for both Bitcoin and the US dollar.
Citibank, one of the world’s leading financial institutions, made headlines by announcing its entry into the blockchain arena. The bank revealed its plans to leverage blockchain technology to create Citibank tokens, which will be backed by institutional savings. These tokens aim to facilitate instantaneous cross-border transactions, operating 24/7 without the limitations of traditional banking hours or international borders.
Bitcoin, often hailed as “digital gold” and a store of value, has faced both optimism and skepticism since its inception. While some see it as the future of global finance, others view it as a speculative asset prone to volatility. Citibank’s move to introduce its blockchain-based tokens could potentially challenge Bitcoin’s status as the premier digital asset.
Citibank’s tokens, backed by the credibility and stability of a major financial institution, may attract investors seeking a more secure and regulated digital asset. This development could lead to increased competition between Bitcoin and Citibank’s blockchain-based tokens, potentially impacting Bitcoin’s market dominance.
The US dollar, long considered the world’s primary reserve currency, has faced its share of challenges in recent years, including inflation concerns and geopolitical uncertainties. Citibank’s blockchain technology could potentially offer an alternative means for cross-border transactions that is not reliant on the US dollar.
As more institutions adopt blockchain-based solutions like Citibank’s, the traditional financial system’s reliance on the US dollar may gradually diminish. This could have far-reaching consequences for the global financial landscape, including potential shifts in currency preferences and a reduced role for the US dollar in international trade.
Bitcoin
Kuwait Authorities Unanimously Ban the Use of Virtual Assets

In a collective effort, the regulatory authorities in Kuwait, represented by the Central Bank of Kuwait, the Capital Markets Authority, the Ministry of Commerce and Industry, and the Insurance Regulation Unit, have issued directives to ban the use cryptocurrencies and other unregulated virtual assets within the country.
The Kuwaiti Capital Markets Authority stated in an announcement released on Tuesday that these recommendations are provided by the Financial Action Task Force (FATF) to combat money laundering and terrorism financing. The issued directives impose an “absolute ban” on most digital currency transactions, including their use for payments or investments, as well as the prohibition of mining activities. Additionally, the regulatory authority restricts local authorities from granting licenses to companies seeking to provide services related to virtual assets as business activities.

The announcement states that the comprehensive ban does not include securities and other financial instruments regulated by the Central Bank of Kuwait and the Capital Markets Authority. The primary objective of these directives is to safeguard users from the risks associated with virtual assets. These proactive measures represent a significant step by the Kuwaiti authorities to mitigate the risks linked to investing in such assets, often used for speculative purposes.
The continuous awareness campaigns launched by regulatory authorities in Kuwait caution cryptocurrency users, especially those dealing with popular digital currencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and others, about the potential risks associated with their usage and investment.
Moreover, since 2017, the Central Bank of Kuwait has prohibited commercial banks and other financial institutions from processing any transactions involving Bitcoin. In May 2021, the bank reaffirmed the illegality of digital currencies in the country.
Before the ban, Kuwait did not impose taxes on income derived from digital currencies, leaving the door open for investors in the crypto space.
Mining companies had previously shown interest in establishing a base in Kuwait due to its low electricity costs. However, the recent campaign has closed the door on crypto investments and mining activities within Kuwait.
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