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18yo. Indian Teen Threatens To Blow Up Miami Airport After Losing Bitcoin

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In what seemed like an epic drama, an 18-year old Indian teen has yesterday threatened to blow up the Miami International Airport (MIA) in an attempt to avenge the stolen Bitcoin. The retaliatory move was supposedly a revenge attempt aimed towards FBI’s uncooperative stance to help him track down an American fraudster who duped him of $1,000 worth of Bitcoin on a popular online forum – and a news story that is making headlines on all crypto news sites today.

According to the reports on the local news outlet Hindustan Times, the unnamed 18-year old boy from the Northern state Uttar Pradesh had made several calls to the FBI to lodge a complaint about a Bitcoin deal that went awry. When the teen felt that he was not getting the support he expected, he called up Miami airport and threatened to blow it up.

The news outlet quoted Uttar Pradesh who is the director general of police (DGP) OP Singh and said that there were no plans to arrest or reveal the kid’s identity, claiming that he was “just 18 years and three months old.”

“Not satisfied with the FBI’s response to his predicament, he made “five calls to Miami airport authorities, threatening to attack the airport by barging into it equipped with an AK-47 assault rifle, grenades, and a suicide belt,” the DGP added.

The teenager, however, was charged under the Indian Penal Code and the IT Act which slapped him for impersonating someone else and for issuing threats against the Miami airport, while the IT Act slammed him for making calls over the Internet to foreign authorities.

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Bitcoin News

Bitcoin Is Hedge Against Global Liquidity Crises: Grayscale Investments

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The major cryptocurrency asset manager which is managed by Digital Currency Group - Grayscale Investments - has recently released a report in which it says that Bitcoin is hedge against global liquidity crises. Featured on many best cryptocurrency news sites, this report shows that Bitcoin has a massive potential and ought to be considered a strategic position within long-term investment portfolios. The asset manager which acquired CoinDesk in 2016 has also said that Bitcoin is hedge - but that it also has a transparent, immutable and global liquidity. Additionally, the report shows the new shifts in monetary, fiscal and trade policies around the world. Because of that, Grayscale alleges that politicians and policymakers may find it increasingly difficult to manage their economies - insinuating a need for investors to take control of their own finances. The latest cryptocurrency news also show that the report (besides claiming that Bitcoin is hedge) examined five recent macroeconomic shocks in which the digital asset outperformed investments as a store of value. The authors in it extrapolated from the case studies including Grexit, Brexit, China's structural devaluation of the renminbi as well as the two Trump shocks - all of which indicating that Bitcoin is hedge and could be a useful tool in helping investors insulate their portfolios from any potential market failures. Snother case study showed that according to Grayscale Investments, Bitcoin managed to deal with many crises better than other assets.
“Between the day of the announcement and the trough of the drawdown, Bitcoin largely outperformed the following major markets and currencies, producing a cumulative return of 53.6 percent versus an average return of -10.1 percent.”
Bitcoin was used to hedge against the Chinese liquidity risk, caused by local investors when they sold their assets against a structural currency devaluation. When it comes to Brexit as a topic in the altcoin news, during the first one-day global selloff of the pound sterling (GBP) and euro, the researchers found that "Bitcoin was a top performing asset" which boasted a return of 7.1% on strong volume versus an average of -2.1% for the rest of the group of currencies. On top of this, the researchers find cause to recommend because the details of the transaction plan are still being worked out.
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Bitcoin News

New Banknotes Help Venezuela Set A Bitcoin Trading Record

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New banknotes that are hyperinflated help the number one cryptocurrency set a record in trading in Venezuela this week when the informal markets reached a new all-time high. Following the coming altcoin news, we take a closer look at the analysis. The data from the monitoring company Coin Dance revealed that up to the 15th of June Venezuelans transacted more than 46 billion sovereign bolivars on the popular bitcoin exchange LocalBitcoins. This is a newly reached figure after the one of 40.9 billion was set earlier in May. The ongoing bitcoin activity in Venezuela become extremely popular after the new banknotes appeared in August 2018. Under the regime of the Venezuelan president Nicolas Maduro, the national bolivar reached to a point where five zeros were deleted from the exchange rate overnight. This was a very controversial move that laid the foundation for the issuing of the new national cryptocurrency Petro. The hyperinflation has set the currency since it was founded with annual rates to increase up to 8 million percent in 2019. This week, Maduro rejected the VES and issued new banknotes in larger denominations to counter the slipping value. The Central Bank of Venezuela claimed the move happened in order to ‘’ make the ‘’payment system more efficient and facilitate commercial transactions’’ but there seems to be little sign of appreciation from the consumers. With the BTC price upstick which set at the end of last week, there was some renewed enthusiasm on the part of traders in countries such as Peru, Argentina, and Colombia. All of these countries have been heavily involved in the Venezuela crises and the reports show that the officials are now attempting to increase border control in order to decrease the flow of refugees. As noted in the latest cryptocurrency news, the president of Brazil Jair Bolsonaro also stated that Latin America should introduce its own version of the Euro but didn’t seem to know what Bitcoin was. He stated that he canceled a project that was aiming to integrate the native Indian population of Brazil by using cryptocurrency. Argentina on the other hand, as a more progressive country, says that the government is in talks with the billionaire investor and bitcoin advocate Tim Draper in order to develop an Argentinian peso –based exchange.
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Bitcoin News

Brokerage Giant TP ICAP Opens Its Doors To Bitcoin Trading

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Brokerage Giant TP ICAP with a $2 billion market cap is finally opening the gates wide for bitcoin trading. In today’s coming altcoin news, we find out more about their decision. This is just another example of institutional crypto thirst since the London-based company will execute Bitcoin futures traders in the name of its clients. In an interview the man responsible for the initiative Simon Forster stated:
 “We want to be close to what’s happening within this nascent asset class because we believe it’s important to invest in the early stages of a growing market.”
The brokerage giant TP ICAP hopes that the new bitcoin trading option will attract the new clients’ money and will diversify its offering. The company which operates as an intermediary to financial, commodity and energy markets has seen a slight slump in revenue since the 2008 meltdown. Brokerage companies like ICAP mainly make trades for its banking partners but the volumes show that the company was forced to issue a profit warning in 2018. The initiative will be conducted from London by Duncan Trenholme and Simon Forster who have plans to expand in the United States and in Asia. The ICAP services will provide derivatives trading but they won’t turn their eyes from the option to hold digital assets directly in the future. Forster admitted that the number one cryptocurrency poses a threat to traditional assets so the finance executives can’t really afford to stand on the sidelines:
 “TP ICAP also understands that this technology could disrupt or impact other asset classes where we currently operate, so we feel it’s important to be informed.”
The traditional finance firms are slowly getting into crypto as well. At the start of the year, Fidelity launched bitcoin custody services for their clients. The multi-million asset management company will also facilitate bitcoin trading in the upcoming months. Also as noted in some of the best cryptocurrency news sites, the Intercontinental Exchange (ICE), which is the parent company of the New York Stock Exchange is preparing to launch Bakkt which is a physically-settled bitcoin futures and custody offering. In the meantime, Nasdaq will launch its own platform for bitcoin derivatives in 2019.
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Analysis

Bitcoin Ignores Correction Calls: Where Is BTC Headed?

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The price of Bitcoin and its fast comeback over the weekend and rise to a 13-month high has been viral and featured on many best cryptocurrency news sites. However, it seems like Bitcoin ignores correction calls which were predicted by analysts and is still above the $9,150 mark, hitting resistance once again. Right now, traders are looking for the next move from the most dominant cryptocurrency and are eyeing altcoins for bigger gains. In the altcoin news, the situation is not that different as Litecoin, Bitcoin Cash, Ripple, Ether and other digital assets are recording growth. So, no one is really expecting a correction right now - especially not after Bitcoin's strong performance and ability to retain the $9,200 price level. For those of you who did not follow our latest cryptocurrency news, it all started when Bitcoin surged through resistance on Saturday evening, recording a new 13 month high of just north of $9,300. This resulted in a 8% price increase on the day for BTC - pumping the price from around $8,600 to the highest price point of 2019. This proved that Bitcoin ignores correction calls despite the small pullback which retested the price again and formed a double top on the day. A new and larger pullback then took Bitcoin to $8,850 but BTC recovered again and is still heading upwards in the Asian trading session. At the time of writing, Bitcoin is trading shy of $9,200 which is marginally higher than yesterday morning. While Bitcoin ignores correction calls, the daily volume is also rising. The number managed to pump back to $23 billion, taking BTC's market capitalization to $162 billion which is higher than the total cryptocurrency market cap back in March this year. A collection of technical indicators named the Ichimoku Cloud recently predicted the price of Bitcoin as well as its momentum and trend decision. As it showed:
“$BTC – found resistance right at the lower cloud and has opened the weekly candle inside the cloud. This represents the highest time frame that #bitcoin has breached into the cloud…with resistance at just above $10K…”
An analyst named Chonis Trading then took to Twitter with the following statement: https://twitter.com/BigChonis/status/1140410183665049603 He also added:
“One more step up the mountain as #bitcoin hits right at the 38.2% fib resistance making it the next target for the bulls to close over and also makes maintaining the 23.6 fib support that much more important for overall continuation…”
As Bitcoin ignores correction calls, many believe that the $10,000 mark could be achieved very soon.
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