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Gold Rally Could Lead To Bitcoin Breaking $10,000 In Near Future
  • While Bitcoin and the U.S. stock market have been stagnant in recent weeks, the same can’t be said for gold.
  • After dipping to $1,670 in June, one ounce of the precious metal soared above $1,800 for the first time since the post-Great Recession rally.
  • Among the factors benefiting gold include central-bank gold purchases, extremely easy monetary policy and a weakening dollar.
  • A fractal analysis by a crypto trader predicts that if Bitcoin takes the same path as gold, then it could soon break the $10,000 level.
  • Paul Tudor Jones, the billionaire hedge fund manager, didn’t note a correlation between the two markets, but believes Bitcoin and gold have properties that will allow them to thrive in the current macroeconomic environment.
  • With gold expected to gain even more in the weeks ahead, analysts are confident that Bitcoin could experience a surge itself.
  • Read the full story here.
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Posted on July 10, 2020
Posted: July 10, 2020
Man Pleads Guilty To Charges In Alleged $722M Bitcoin Ponzi Scheme
  • One of the four accomplices charged with defrauding investors of more than $722 million through a cryptocurrency mining scheme has pleaded guilty to charges against him.
  • Silviu Catalin Bacali, a 35-year-old Romanian programmer, was previously arrested in Germany in December 2019.
  • He was charged with one count of a conspiracy to commit wire fraud as well as a conspiracy to offer and sell unregistered securities. Bacali now faces a maximum of five years in prison and a $250,000 fine. 
  • The four others involved in the scheme — Matthew Brent Goettsche, Russ Albert Medlin, Jobadiah Sinclair Weeks and Joseph Frank Abel — were charged in connection in the United States last December.
  • The scheme was allegedly conducted between April 2014 and December 2019. The scammers solicited money from investors in exchange for shares in purported cryptocurrency mining pools. 
  • The scheme purportedly cost investors at least $722 million worth of Bitcoin.
  • Read the full story here.
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Posted on July 10, 2020
Posted: July 10, 2020
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Posted on July 11, 2020
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