BTC Crash, Fraud and Anti-Hodling: Bad Crypto News of the Week

The Bitcoin community collectively facepalmed after BTC fell back below $10,000. It was the result of an $800 crash that took place over the course of one hour, the fifth-largest one-hour drop ever recorded. But some analysts are calling for an unprecedented rally ahead of the pending halving. This is largely due to the appearance of a “golden cross,” when the 50-day moving average crosses the 200-day moving average. In today’s market terms, that calls for a BTC price of $26,000 before the next halving.

Binance co-founder CZ is also optimistic about price gains within the same timeframe. He said previous halvings have seen rises and the next halving doesn’t appear to be priced in yet — perhaps Bitcoin bulls still have more to look forward to.

Gemcoin founder Steve Chen has admitted to wire fraud and tax evasion, and we even get context on the recent clash between Ronnie Moas and Dan McDermitt. Check it out below:

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