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Donald Trump shows concern about the $23.6 million worth Bitcoin [BTC] seized by ICE HSI

Ketaki Dixit

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Donald Trump re-tweets about the $23.6 million worth Bitcoin seized by ICE HSI
Source: Pexels

On 27th June, Immigrant and Customs Enforcement [ICE] Homeland Security Investigation [HSI] New York seized about 2000 Bitcoin [BTC] worth around $23.6 million. The Bitcoin [BTC]’s were seized during an operation launched by the ICE HSI against U.S darknet vendors.

The operation was led by the Homeland Security Investigation along with the U.S Attorney’s Office for the South District of New York who impersonated to be money launderers exchanging dollars for virtual currency on the Darknet market. The operation led to the identification of many Darknet vendors and the arrest of more than 35 vendors.

The Deputy Attorney General Rod J. Rosenstein says:

“Criminals who think that they are safe on the Darknet are wrong. We can expose their networks and are determined to bring them to justice. Today we arrested more than 35 alleged Darknet vendors. We seized their weapons, their drugs, and $23.6 million of their ill-gotten gains.”

According to the report, the operation led to the seize of around 2000 Bitcoin [BTC] and other cryptocurrencies which were approximately worth more than $20 million. They also seized Bitcoin mining devices, vacuum sealers and computer equipment along with various other things.

Donald Trump retweeting the news

Donald Trump retweeting the news

The successful operation has gained the attention of Donald J. Trump, the President of the United States of America. The re-tweet of the news shows both positive and negative response where one side is seen praising the ISE HSI and other still slamming the government for its decision which separates immigrant children from their family.

Karen, a Republican says:

“STAY THE COURSE ICE! Show these American Patriots what you can do! The American people are with you 💯% The left movement is dying.”

Stella, a Twitterati says:



“With money coming in like that, abolish what?”

Ryan Hill, a candidate running for Michigan’s 13th U.S. Congressional District says:

“Was this before or after they stole 2,000 crying, scared children from their parents…. Asking for a friend”

Marianne Hofer, a supporter of Donald Trump says:

“Well done, ICEgov! There’re just doing their jobs, and might I add, a damn good one at that! “





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Ketaki Dixit is a Journalism major from Jain University. She has about 1-year experience in the field and is passionate about blockchain technology and the cryptocurrency world.

Analysis

Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market

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Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market
Source: Pixabay

Bitcoin’s much-awaited Golden Cross, which many analysts claimed will lead to a resurgence of a bullish market, has been confirmed. The intersection of the 200-day moving average and 50-day moving average, which indicates the Golden Cross, was achieved over the past few hours.

Earlier today, the top cryptocurrency saw a massive rise after days of sideways movement. Bitcoin’s ascendance saw it break the $5,350 resistance level, which eToro’s Mati Greenspan had previously suggested will consolidate “buying pressure.”

Source: TradingView

Additionally, a major psychological level of $5,500 was also surpassed less than three weeks after Bitcoin broke the $5,000 mark.

The Golden Cross theory holds credibility among analysts in the cryptocurrency realm as it infers that the coin’s average price is above its 200-day equivalent. For the first time in over a year, the cryptocurrency market has seen its 50-day MA move above the 200-day MA, which according to many is a sign of a bullish market.

On the opposing side of the Golden Cross indicator is the Death Cross, where two indicators cross over into a bearish market i.e. the 200-day MA moves above the 50-day MA. The Death Cross manifested in April 2018, after the prices went into a free fall following the December 2017 high.

In April 2018, BTC was priced at just over $7,000, following which it lost more than 50 percent of its price by the end of the year. The price of the king coin has recovered exceedingly well in 2019 however, winning back almost 50 percent of its lost value.

Many analysts, including Greenspan, agree that the crossing of the two moving averages is a clear testament to the return of the bull market. Although he didn’t quite use those words, Greenspan tweeted,

“Ladies & Gents… The Golden Cross!
Bitcoin’s 50-day moving average (gold) crossing above her 200-day moving average (blue). 📈
This is yet another sign that we’re back in a🐂market. 🚀🌛”

However, in an exclusive interview with AMBCrypto last week, Greenspan had stated that the Golden Cross theory is a “lagging indicator,” as the Death Cross was last seen in April 2018, months after the market took a bearish turn.



In his view, the 200-day moving average is the key indicator. On April 2, Bitcoin broke this mark for the first time since March 2018, by recording a massive 17 percent daily gain and rising above $5,000.

Based on historic price changes with reference to the Golden Cross, the last time the 50-day MA soared above the 200-day MA, price of Bitcoin rose by over 8000 percent from $246 in October 2015 to almost $20,000 in December 2017. Given past market movements, the current market scenario, and the optimism in the air, the Golden Cross may just have initiated the Bitcoin bull market.





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