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Whale Alert: More than $14 Million PAX transferred to exchange for buying

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In the last 24 hours, large transactions of more than $14 Million of PAX (Stablecoin) were made into Binance and Okex probably for buying crypto.

The cryptocurrency market is facing the worst days of the year with no clarity as to which direction will the market head towards. Some cryptocurrency analysts are predicting bitcoin to reach $2500 this year and others predict that the market is going to rise massively at the ending days of the month. As of today, bitcoin has started a downfall with the price trading at a high of around $4360 at the start of the day to around $3866 right now (At the time of publishing) according to CoinGecko Charts.


 

However, there are always the clever whales waiting out there for the right moment to buy while the whole market is panic selling. In the last 24 hours, large transactions of more than $14 Million of PAX (Stablecoin) were made into Binance and Okex probably for buying crypto such as BTC, ETH, LTC when the market is panic selling which is happening right now. Here are the details of the transactions which were made for the transfer of big amounts of stablecoin:

Transaction 1: 908,721 PAX transferred to Binance

https://etherscan.io/tx/0x96cc14781c3e711d25f31edfb956e8c8776eb8c1e1abd13cf67675b1d7bcb54a

 

Transaction 2: 2,500,000 PAX transferred to Binance

https://etherscan.io/tx/0xb2e1cf426febbc4e04dd7a8f1eb476a38b542fc785e68cd6b7df25ee272fcece

 

Transaction 3: 500,000 PAX transferred to Binance

https://etherscan.io/tx/0x640dffba3fab6c9382dbb7154b1639e86393bf27b6d5fe54c29ee179fb8e7d5b

 

Transaction 4: 500,000 PAX transferred to Binance

https://etherscan.io/tx/0xfe784aa75e0e7a9c9a2ef9f09d4f929aef07307f5424df15d1ea2fc9807363e6

 

Transaction 5: 500,000 PAX transferred to Binance

https://etherscan.io/tx/0xcb651857b0be46bfb12d87e85c56139aa07029873d0ed7caca9b06a0da0d1646

 

Transaction 6: 500,000 PAX transferred to Binance

https://etherscan.io/tx/0xda6794c3bf610e8453fedeb7f881c18f211899d1c08016852ee367e1252118f4

 

Transaction 7: 500,000 PAX transferred to Binance

https://etherscan.io/tx/0x931b605c8630ab48c515484968b1a12c0f73ad389fc293138f065892e22479f4

 

Transaction 8: 2,000,000 PAX transferred to Okex

https://etherscan.io/tx/0xac0d71aec8039053b728683a088c71cd4471eb068784987da98822bcc8bbbcbb

 

Transaction 9: 4,990,000 PAX transferred to Binance

https://etherscan.io/tx/0x793efff516ce39ee900149ff027b5ebdd8c56f57b39e16d18db02ace2654213b

 

Transaction 10: 900,000 PAX transferred to Binance

https://etherscan.io/tx/0x0d26ac5828288dc447151021790d2623386ec9f492a48a539d87a5653b298e83

 

Transaction 11: 500,000 PAX transferred to Binance

https://etherscan.io/tx/0xeda1d06bd42998328b07d622fde6dfc6617229baf4671d0ca36d2c6f460939bd

 

 

Beware of the whales! Have safe trading.

#Exchange

5th Largest Korean Cryptocurrency Exchange: Coinnest Shuts Down

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Coinnest which is one of the largest cryptocurrency exchanges in Korea made an announcement that it is going to shut down its operations in the midst of some financial, admin and legal problems.

 

Coinnest Shuts Down:

According to a recent publication by Coinnest, bitcoin exchange, the exchanges is shutting down its operations. Coinnest had earlier closed down its new account creation services on 16th April 2019.

 

According to the exchange, it is going to terminate the trading and deposit features at the end of this month. However, the users shall be able to withdraw their cryptocurrencies from the exchange until 30th June 2019.

 

coinnest-screenshot

website screenshot

 

Following the decision to shut down its operations, the exchange has made an announcement regarding the decrease of the minimum withdrawal amount as well the withdrawal fees. Coinnest warned the users that no user shall be able to withdraw their funds after 30th June 2019.

 

Last year, the CEO of the exchange, Kim Ik-hwan was arrested by the South Korean police for fraud and theft. Since then, the exchange had been facing a bad time. The CEO was found guilty by the court and was sentenced to prison along with a fine of $2.5 million.

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#Bitcoin Price Analysis

BTC to USD: Bitcoin Price Analysis, BTC going to rise?

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Bitcoin price is supported strongly around $5200. BTC is currently in a bullish momentum with the next aim of $5400 and $5500.

Technical Indicators:

Support Levels: $5200, $5150

Resistance Levels: $5350, $5400, $5500

 

Key Points:

  • Bitcoin price is currently trading well above $5200 support level.
  • BTC is gaining momentum and trying to move over the $5350 resistance zone.
  • A bullish pattern is being formed with support around $5200 on the hourly chart.
  • Bitcoin price is currently in a bullish momentum and might move towards $5400 and $5500 resistance levels soon.

 

Bitcoin Price Analysis:

Summary: Bitcoin price is supported strongly around $5200. BTC is currently in a bullish momentum with the next aim of $5400 and $5500.

 

This week, bitcoin price maintained a slow bullish pace after rising over $5100 level. BTC was able to maintain its position above $5100 and $5200 support levels after breaking through the major resistance around $5200. BTC was able to close over the 100 hourly SMA. After falling up to $5190, bitcoin price was able to recover sharply to over $5300.

 

Bitcoin price spiked up to $5365 before correcting downwards. The support around $5250 proved strong enough to stop further declines and BTC was able to maintain its position above the 100 hourly SMA. Also, a bullish pattern is being formed with support around $5200 on the hourly chart.

 

BTC will most probably experience some dips, however, it remains strong support around $5200. The current target for bitcoin is $5350 above which it might test $5400 and $5500 resistance levels.

 

BTCUSD Price Chart 20 April

BTCUSD Price Chart 20 April

 

The chart shows that bitcoin price is currently trading with a bullish force above the $5200 support level. Until BTC remains above this support, there are high chances of BTC testing the $5400 and $5500 resistance levels. However, if the support level is broken, Bitcoin might fall down to $5150 and $5100 supports.

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#Bitcoin

Donald Trump policies push Mexico to Bitcoin

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Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse.

Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse that remittance payments of Mexican migrants in the United States of America will potentially be the target of new restrictions essentially ending the possibility of Mexican migrant workers to be able to cheaply send money back home to their families.

 

Mexico adopting Bitcoin:

Mexico has been experiencing a massive increase in the number of transactions on localbitcoins. Mexican migrant workers are believed to be exploited by the remittance companies which are charging around 10% fees. What is essentially being discussed here by the Trump Whitehouse is a new tax on these migrant workers. The number that they are currently floating around is a 3% tax on the remittances going from the USA to Mexico. This may not seem super crazy but considering the $33.4 billion which were sent to Mexico in 2018 alone, that extra 3% could mean $1 billion more per year for the United States government.

 

98% of the transactions that were sent during the last year, were sent via electronic means which means that there is actually a very strong remittance route that is ready for mass disruption going from the United States to Mexico and Bitcoin could be the perfect answer. However, the average size of a remittance payment from the United States to Mexico is $322 last year and the problem is that if the fees rise again exponentially on bitcoin, then bitcoin might not be the ideal cryptocurrency for these kinds of smaller remittance payments. Maybe we are going to see some other cryptocurrency being adopted in that situation. But regardless of which cryptocurrency is used, we can see that there is a clear need for disruption as government policies again seeks to impede or overly exploit the free float of money.

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