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Bitcoin [BTC]: Coin’s rally has begun, claims Peter Brandt on the basis of past data, technical indicator




Bitcoin [BTC]: Coin's rally has begun, claims Peter Brandt on the basis of past data and a technical indicator
Source: Unsplash

Peter Brandt, an old school trader and author of “Diary of a Professional Commodity Trader,” posted a tweet suggesting that Bitcoin’s rally might have begun.

Brandt tweeted,

“The last time Factor’s benchmark weekly MA was in the current profile of turning from down to up was in Nov 2015 just as $BTC began its move from $340 to $19,800.”

Source: Twitter | Peter Brandt

Brandt spoke about BTC prices moving above the Factor’s weekly moving average, which was last seen in October 2015. The rally for Bitcoin started after the price moved above this moving average. From this point on, the price surged from $300 to approximately $20,000, which is an increase of 6,500% over 2 years.

Although Bitfinex and Tether’s drama has gripped the interest of Twitter, Bitcoin’s bottom is probably the most debated topic in 2019. The overall sentiment of the community flipped when the Golden Cross was formed, with people starting to believe that the rally had started.

Brandt’s theory was met with opposition from a trader, @IamCryptoWold, who disagreed with Brandt. Crypto Wolf tweeted,

“Uncle, the last time we found support on the monthly 21 EMA we started the moon walk”

Source: Twitter | @IamCryptoWolf

According to the above tweet, Bitcoin’s rally started after the prices moved above the 21-monthly exponential moving average.

There are people who are of the belief that Bitcoin bottomed in December 2018, while some are of the belief that the prices are yet to form the second bottom. The Double Bottom theory explains the people who fall under the latter category.

A Twitter user, @PaulAbarca13, tweeted,

“Wouldn’t it be nice if BTC went from 3400 to 198000 this time around…..🤪”

@Gann540, another Twitter user, commented,

“We said that Peter at 3400$ and you said it’s going to die!”

Brandt replied,

“You also said that at $19800 — blocked.”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Huobi, Bitfinex and other exchanges allegedly directly/indirectly linked to laundering/mixing of Bitcoins




Huobi, Bitfinex, and other exchanges are allegedly linked in laundering/mixing of Bitcoins
Source: Unsplash

On 19 May, 2019, @Whale_Alert tweeted a transaction of 2000 BTCs between Bitfinex and an unknown wallet, which after in-depth research by a Twitter user, confirmed that it was linked with wash-trading, mixing and laundering of funds. The funds circulated over various exchanges like Bitfinex, Binance, Huobi, Coinbase, and others, raise serious questions regarding AML laws and more.

The flagged transaction was sent from 1HL5rZWw5rGzFAB1mThEMxwazEBtWigs7B to two distinct addresses.

The Twitter user, @Proofofresearch, flagged this transaction and revealed the exchanges involved [directly or indirectly]. The user tweeted,

The user flagged a few addresses in the clusters which sent a significant amount of funds, shown in the image attached below.

Source: Twitter | CryptoMedication

The entity 145631092, as seen in the above chart, the funds sent by Huobi from this cluster ended on July 21, 2017. Another wallet “17hf5H8D6Yc4B7zHEg3orAtKn7Jhme7Adx”, linked to having transactions with Huobi has one particular transaction that stands out as it has an op_code named “People! help!”, which was transferred on March 30, 2019.

Source: Smartbit

The wallet address “19V5joogtZCCj3YWcP9pNT8eKLSZybc1Kq” has only four transactions in total. Upon checking the previous transaction for this address, the transaction with hash “bee4795db198230d6baad2e9dbba42b597c635b2471101641cce99e1ff0e91e4” stands out, since it is linked to darknet market places, the user tweeted.

Source: Twitter | CryptoMedication

Further, the address “3M1QVCjXn38AUdUxbLCH4WUZc1ai72ZKgr” that sent funds to the above-mentioned wallet, has a strong connection to darknet market places like the Hydra Market place.

Source: Twitter | Cryptomedication

The source of these funds was directly linked again with Hydra Market place, with the user tweeting,

The Twitter user further alleged that the addresses linked to these clusters were attached to fraud and some user[s] was “selling accounts at Coinbase/Huobi/Bittrex/Binance.” The Twitter user also urged the compliance team of the respective exchanges to close these flagged accounts ASAP.

The user added that all the funds linked to darknet market places were later deposited in Huobi exchange, which according to the user, gets mixed by Huobi.

Additionally, the user added,

“There are zero customers involved in any of these transactions at this point. That much is obvious. These addresses are not functioning as customer deposit addresses. That’s a guarantee. Funds go to Binance/OKex/Poloniex/… By FAR, Okex is the most frequent recipient of funds from these Huobi-controlled addresses. Please keep in mind that these are not deposit addresses. These are addresses where Huobi is literally mixing the funds and sending them to other exchanges for some reason.”

One particular address connected to Bitfinex in this fiasco, “1LSgEKji3ZoGdvzBgkcJMej74iBd38fySb,” has received 1 million Bitcoins, according to the user. The user added,

“As stated before, Binance/Coinbase/Bitfinex/Huobi/Bittrex/Coinbase/”Bitbank”/Bithumb/OKex are all pals in this laundering scheme together. They mix and mash funds and operate in a symbiotic fashion – replenishing stores when necessary… In this case, Huobi’s hands are dripping if there’s such a thing as catching someone ‘red-handed’.”

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