Bitcoin and cryptos as well as the Asian stock markets have seen their prices drop earlier today. After the president of the United States, Donald Trump, announced that he and his wife had tested positive for COVID-19.
Yesterday the day started with an uptrend. It seemed sustained until it became known that the US Commodities and Futures Trading Commission, CFTC, in conjunction with federal prosecutors, filed a lawsuit against the BitMEX exchange. Accusing its managers of facilitating unregistered business activities in accordance with local laws.
Since then, Bitcoin and cryptos started to go down, their prices have been unstable. But that is not all. In reality, more than 32,000 bitcoins were withdrawn from BitMEX in less than 24 hours after the news.
In addition to this, in a tweet, Trump said that he and first lady Melania Trump had tested positive for COVID-19. And, that they would begin their quarantine process “immediately.”
In US markets, S&P 500 futures fell about 2%. For its part, around 8:00 a.m. New York BTC obtained a price of USD $ 10,460, 3.99% less than yesterday at the same time.
On the other hand, gold was up 0.32% on the day. To settle at $ 1908 after falling to a low of $ 1888 in Asia’s early trading hours.
Altcoins also down
Now, not only BTC reacted, also the rest of the cryptos, the other altcoins are in the red even more than BTC. This is how we can see it from our online crypto tool.
Some of the drops are Ethereum (ETH) at 6.63%, Litecoin (LTC) at 6.24%, Bitcoin Cash (BCH) at 5.50%, and Monero (XMR) at 10.79%. Meanwhile, Bitcoin is located at USD 10,528 obtaining a decreasing variation of 3.03% in the last 24 hours.
For now, Trump will self-quarantine as he enters the last month of his re-election bid. On the other hand, we will be attentive to what happens with Bitcoin and cryptos around their prices.
NGO BTC Chile reveals names of “multi-level” crypto scams operating in that country
The non-governmental organization with an emphasis on educating about digital currencies, NGO Bitcoin Chile, published a statement in which it warns about the proliferation of cryptocurrency scams at the local level, which operate under a multi-level business model.
The organization, also known as the Chilean Association of Crypto Technologies, indicates in the statement which are the companies that make use of this type of offers.
Also known as network marketing or multilevel network marketing. To attract people taking advantage of the existing ignorance and associated with these assets and their associated markets.
Regarding the aforementioned organizations, the NGO Bitcoin Chile warns that before the illegality of this type of operations. Organizations take advantage of legal loopholes to make their offers through legally constituted companies.
Relying on the marketing of a product or service that would appear to be your main market proposition. Which is displaced by the recruitment of referrals.
Among the organizations that operate under this system, the NGO names scams such as: AirBit Club, OneCoin, Trust Investing, Bitcheke, EasyBizzi, iMarkets Live iM Academy, Bitcoin Value, Mind Capital, Forsage, Toway Group, NeuronetMX, Dyzine, Bitcoin Vault, Kuailian, Arbistar, Kuvera, Stratus Academy, iComTech, Weltsys, and Aenternam Group.
Today there is a debate on the new mining regulation in Venezuela
During this Friday, October 2, a new online edition of the “Cryptographic Friday” will be carried out, which will be called “Providencia 084-2020 on Cryptocurrency Mining in Venezuela: Regulation or Digital Totalitarianism?”
The space will be raised to be able to discuss the legal elements behind this new regulation for the cryptocurrency mining industry within Venezuela. And evaluate if it is restrictive or inclusive for the actors involved.
Among the guests and organizers of this event, they mentioned that it is expected to highlight the real scope of this new regulation, as well as to dispel any type of doubt or concern that may arise among the audience that participates in the event .