Cryptocurrencies

Bitcoin October 2, 2020

The Bitcoinsphere is still under the influence of the CFTC announcement that has decided to take civil action against BitMEX. BitMEX CEO Arthur Hayes faces up to 5 years in prison and a $ 250,000 fine with parallel criminal action by the New York prosecutor. US regulators want the skin of BitMEX and its brains, but that shouldn’t drive Bitcoin (BTC) below $ 10,000. Unless another rumor of a false return from the big boss ends up being five-figure.

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BitMEX’s assassination won’t be Bitcoin’s

Open interest on derivatives on BitMEX plunged 20% in the space of 24 hours, while those on Huobi exploded by 12% and, open interest on Binance recorded moderate gains.

Since the press release CFTC, users of BitMEX have withdrawn at least 32,200 BTC of the exchange. Estimates of CoinMetrics show that just over a third of Bitcoins withdrawn, have been transferred to Gemini and Binance.

Although the legal woes of BitMEX caused a fall of Bitcoin yesterday, October 1, 2020, the bulls have been able to defend so far the 10,500 USD which now serves as very short term support. Bitcoin is trading at $ 10,551 today, October 2, 2020, as of this writing.

Things are moving 10 years later!

According to Telegram bot BTCparsers, someone moved today 50 BTC from 2010. A similar movement had taken place on May 20, 2020; 50 BTC of the era Satoshi had then been transferred from a wallet.

Speculations on a Satoshi Nakamoto deserting Bitcoin, had led to a fall of more than 7% of the latter’s price.

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It was later determined that these BTC were not from Patoshi blocks mined by the daddy of Bitcoin.

After BitMEX: who’s next? Arthur Hayes’s misfortunes are currently the happiness of other exchanges. But there is no indication that the US authorities will not come after them soon – one can always invoke an X legal reason. Should we block – not just mine BTC – facing the regulatory authorities to prevent a legal assassination of Bitcoin and its cadets? Another scholar who comes out with a conspiracy theory? Hopefully this remains purely theoretical.

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