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Trading Legend Peter Brandt Predicts More Pain for Ripple's XRP, Bitcoin Cash, and Litecoin

  • Alex Dovbnya
    📰 News

    Peter Brandt suggests that the altcoin carnage will continue with an even more brutal twist

Trading Legend Peter Brandt Predicts More Pain for Ripple's XRP, Bitcoin Cash, and Litecoin
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Commodity trading veteran Peter Brandt has just rubbed salt into the wounds of some altcoins bagholders who have already experienced a lot of pain this week.

His technical analysis shows that top cryptocurrencies are on the verge of capitulation.

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This Top Cryptocurrency Trader Is Buying More as Bitcoin Price Drops Below $10,000

This Top Cryptocurrency Trader Is Buying More as Bitcoin Price Drops Below $10,000

No moon trips for you

According to Brandt, Bitcoin Cash (BCH), Litecoin (LTC), and Ripple’s XRP are positioned for further price decline despite trimming most of their gains in 2019.

As reported earlier by U.Today, Brandt predicted that XRP could collapse $0.02, thus becoming almost worthless. He also accused Ripple of pullings the strings in order to sustain the price stability of its native token.

Still, while this TA looks undoubtedly ugly, some Twitter users rightfully pointed out that positive news sentiment could drastically change the course of things.

At press time, every single altcoin within the top 50 (save for Bytecoin) is painted red after Bitcoin failed to breach $11,000 and started to wave the white flag.

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Pullbacks are ok-ish

Brandt, who accurately predicted that Bitcoin was on the verge of parabolic advance back in April, didn’t share his take on the number one currency this time around.

However, he earlier said that significant pullbacks in the 30-50 percent range are normal within a bull trend.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Crypto Crime: 21-Year-Old Australian Woman Faces 53 Charges for Laundering Stolen Funds with Cryptocurrency

  • Alex Dovbnya
    📰 News

    Jasmine Vella-Arpaci, who was part of the major identity fraud ring, faces up to 53 charges after stealing millions of dollars

Crypto Crime: 21-Year-Old Australian Woman Faces 53 Charges for Laundering Stolen Funds with Cryptocurrency
Contents

On Sept. 17, Jasmine Vella-Arpaci, a 21-year-old woman from Australia, made her first court appearance after being accused of shipping millions of dollars with the help of crypto. The young mother has been charged with 53 counts of fraud and theft.

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"Crypto Wizard" Arrested for Taking Part in $16 Mln Cryptocurrency Scam

A multi-million identity fraud

According to the Australian Securities and Investments Commission (ASIC),.the group of criminals, whose members referred to themselves as “Team Awesome,” would purchase stolen sensitive information on the dark web to open fake bank accounts in Australia. The funds were stolen from superannuation accounts and share-trading accounts of the gang’s unsuspecting victims.

The money was then transferred money to their accomplice in Hong Kong to trade expensive jewelry before sending it back home via cryptocurrencies.

Cybersecurity threats such as data breaches and financial system attacks are a major concern for ASIC and we will continue to pursue not only cyber-related market and superannuation offending but also the need for institutions to maintain their obligations to ensure they have adequate cyber resilience, says ASIC deputy chair Daniel Crennan

The investigation into the major crime syndicate continues with further arrests expected.

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Canadian Police Shed Light on New Bitcoin ATM Scam

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Crypto scams on the rise

As reported by U.Today, cryptocurrencies scams have grown by more than 200 percent in Australia in 2018 with victims losing about $6.1 mln.

In 2019, this number could be easily topped. Back in July, an elderly couple lost a whopping 900,000 to an elaborate crypto scam, thus wasting all their retirement savings.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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