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Bitcoin Could Reach $100,000 Despite Recent Correction: Peter Brandt

Veteran trading analyst, Peter Brandt has predicted that Bitcoin could still reach $100,000 over the long term in spite of its recent price correction.

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Peter Brandt has again predicted that the world’s leading cryptocurrency, Bitcoin could still reach $100,000 over the long term in spite of its recent price correction.

Bitcoin Could Still Reach $100,000 Despite Correction: Peter Brandt

On April 14, Bitcoin reached an all-time high of $64,854 but later retraced all the way back to $30,000 on May 19.

Despite the massive price correction, Brandt believes that the flagship cryptocurrency still has the potential to reach $100,000. According to him, the likelihood of Bitcoin hitting $100,000 or higher is greater now than it was three years ago.

Previously, Brandt had predicted that in the worst-case scenario, the cryptocurrency the potential to plummet to around $20,000.

Singing the same tune, Bloomberg’s senior commodity strategist Mike McGlone recently predicted in its latest report that Bitcoin is likely to reach $100,000 and ultimately retrace back to $20,000.

READ  Brexit Inspires Mixed Reaction From The Crypto Community

“Bitcoin is more likely to resume appreciating toward $100,000 resistance rather than sustaining below $20,000,” McGlone said.

Infosys co-founder Endorses Crypto As Asset Class

Nandan Nilekani, the co-founder, and chairman of Infosys, an Indian multinational tech firm has urged lawmakers to accept cryptocurrencies as an asset class.

Speaking to the Financial Times, Nilekani says cryptocurrencies could be used as similar to gold or real-estate:

“Just like you have some of your assets in gold or real estate, you can have some of your assets in crypto. I think there’s a role for crypto as a stored value but certainly not in a transactional sense.”

He does not endorse cryptocurrencies as a mode of payment or as a substitute for a fiat currency because of their volatility and energy-intensive nature. Instead, he advised on using cryptocurrencies for speculation and as a store of value, saying:

READ  Binance and WazirX Announced New ‘Blockchain For India’ Fund

“Just like you have some of your assets in gold or real estate, you can have some of your assets in crypto. I think there’s a role for crypto as a stored value but certainly not in a transactional sense.”

#Bitcoin #Cryptocurrencies #Infosys #Nandan Nilekani #Peter Brandt

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/bitcoin-could-reach-100000-despite-recent-correction-peter-brandt

Blockchain

$3.6B Worth Bitcoins Scam, Founders of South African Crypto Exchange Africrypt Are Missing

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The total value of $3.6 billion Bitcoins disappeared while the founders of South African cryptocurrency exchange AfriCrypt are missing, Bloomberg reported.

blockchain-bitcoin-south-africa-africrypt-cybercrime-hacker-scam

A pair of the brother of 20-year-old Ameer Cajee and 17-year-old Raees Cajee founded South Africa-based digital currency exchange AfirCrypt in 2019 to attract high-net-worth individuals and celebrities.

The company claimed its platform was hacked on April 13 but urged its investors not to report the incident to lawyers and authorities, claiming the report would hinder the recovery of funds.

Hanekom Law Firm has accepted the request from their client of the victim for further investigation. Yet, the law firm was doubtful and sceptical related to the hacking incident, comment this:

“We were immediately suspicious as the announcement implored investors not to take legal action. Africrypt employees lost access to the back-end platforms seven days before the alleged hack.”

The law firm found that later the pair of founders of AfriCrypt immediately moved to the UK after the incident and closed all contact information.

Reportedly, the brothers have transferred 69,000 BTC from AfriCrypt’s account and customer wallet to an account in the First National Bank (FNB) in Johannesburg. According to the current bitcoin price, the transaction price of $32,968, worth an estimated $2.275 billion.

Attorney Hanekom stated that these funds were transferred to various dark web tumblers and mixers, causing challenges with severe fragmentation and untraceable funds.

The authority said the investigation was undergoing and transferred the case to a special division of the South African Police Force. Yet, the South African government faces legal challenges due to its incomprehensive laws targeting cryptocurrencies assets.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/3.6b-bitcoins-disappeared-with-lossing-contact-founders-south-african-crypto-exchange-africrypt

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Blockchain

$3.6B Worth Bitcoins Scam, Founders of South African Crypto Exchange Africrypt Are Missing

Published

on

The total value of $3.6 billion Bitcoins disappeared while the founders of South African cryptocurrency exchange AfriCrypt are missing, Bloomberg reported.

blockchain-bitcoin-south-africa-africrypt-cybercrime-hacker-scam

A pair of the brother of 20-year-old Ameer Cajee and 17-year-old Raees Cajee founded South Africa-based digital currency exchange AfirCrypt in 2019 to attract high-net-worth individuals and celebrities.

The company claimed its platform was hacked on April 13 but urged its investors not to report the incident to lawyers and authorities, claiming the report would hinder the recovery of funds.

Hanekom Law Firm has accepted the request from their client of the victim for further investigation. Yet, the law firm was doubtful and sceptical related to the hacking incident, comment this:

“We were immediately suspicious as the announcement implored investors not to take legal action. Africrypt employees lost access to the back-end platforms seven days before the alleged hack.”

The law firm found that later the pair of founders of AfriCrypt immediately moved to the UK after the incident and closed all contact information.

Reportedly, the brothers have transferred 69,000 BTC from AfriCrypt’s account and customer wallet to an account in the First National Bank (FNB) in Johannesburg. According to the current bitcoin price, the transaction price of $32,968, worth an estimated $2.275 billion.

Attorney Hanekom stated that these funds were transferred to various dark web tumblers and mixers, causing challenges with severe fragmentation and untraceable funds.

The authority said the investigation was undergoing and transferred the case to a special division of the South African Police Force. Yet, the South African government faces legal challenges due to its incomprehensive laws targeting cryptocurrencies assets.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/3.6b-bitcoins-disappeared-with-lossing-contact-founders-south-african-crypto-exchange-africrypt

Continue Reading

Blockchain

$3.6B Worth Bitcoins Scam, Founders of South African Crypto Exchange Africrypt Are Missing

Published

on

The total value of $3.6 billion Bitcoins disappeared while the founders of South African cryptocurrency exchange AfriCrypt are missing, Bloomberg reported.

blockchain-bitcoin-south-africa-africrypt-cybercrime-hacker-scam

A pair of the brother of 20-year-old Ameer Cajee and 17-year-old Raees Cajee founded South Africa-based digital currency exchange AfirCrypt in 2019 to attract high-net-worth individuals and celebrities.

The company claimed its platform was hacked on April 13 but urged its investors not to report the incident to lawyers and authorities, claiming the report would hinder the recovery of funds.

Hanekom Law Firm has accepted the request from their client of the victim for further investigation. Yet, the law firm was doubtful and sceptical related to the hacking incident, comment this:

“We were immediately suspicious as the announcement implored investors not to take legal action. Africrypt employees lost access to the back-end platforms seven days before the alleged hack.”

The law firm found that later the pair of founders of AfriCrypt immediately moved to the UK after the incident and closed all contact information.

Reportedly, the brothers have transferred 69,000 BTC from AfriCrypt’s account and customer wallet to an account in the First National Bank (FNB) in Johannesburg. According to the current bitcoin price, the transaction price of $32,968, worth an estimated $2.275 billion.

Attorney Hanekom stated that these funds were transferred to various dark web tumblers and mixers, causing challenges with severe fragmentation and untraceable funds.

The authority said the investigation was undergoing and transferred the case to a special division of the South African Police Force. Yet, the South African government faces legal challenges due to its incomprehensive laws targeting cryptocurrencies assets.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/3.6b-bitcoins-disappeared-with-lossing-contact-founders-south-african-crypto-exchange-africrypt

Continue Reading

Blockchain

$3.6B Worth Bitcoins Scam, Founders of South African Crypto Exchange Africrypt Are Missing

Published

on

The total value of $3.6 billion Bitcoins disappeared while the founders of South African cryptocurrency exchange AfriCrypt are missing, Bloomberg reported.

blockchain-bitcoin-south-africa-africrypt-cybercrime-hacker-scam

A pair of the brother of 20-year-old Ameer Cajee and 17-year-old Raees Cajee founded South Africa-based digital currency exchange AfirCrypt in 2019 to attract high-net-worth individuals and celebrities.

The company claimed its platform was hacked on April 13 but urged its investors not to report the incident to lawyers and authorities, claiming the report would hinder the recovery of funds.

Hanekom Law Firm has accepted the request from their client of the victim for further investigation. Yet, the law firm was doubtful and sceptical related to the hacking incident, comment this:

“We were immediately suspicious as the announcement implored investors not to take legal action. Africrypt employees lost access to the back-end platforms seven days before the alleged hack.”

The law firm found that later the pair of founders of AfriCrypt immediately moved to the UK after the incident and closed all contact information.

Reportedly, the brothers have transferred 69,000 BTC from AfriCrypt’s account and customer wallet to an account in the First National Bank (FNB) in Johannesburg. According to the current bitcoin price, the transaction price of $32,968, worth an estimated $2.275 billion.

Attorney Hanekom stated that these funds were transferred to various dark web tumblers and mixers, causing challenges with severe fragmentation and untraceable funds.

The authority said the investigation was undergoing and transferred the case to a special division of the South African Police Force. Yet, the South African government faces legal challenges due to its incomprehensive laws targeting cryptocurrencies assets.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/3.6b-bitcoins-disappeared-with-lossing-contact-founders-south-african-crypto-exchange-africrypt

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