Altcoin Bear Market is Over, Tom Lee Believes

New optimistic forecast from co-founder of Fundstrat Global Advisors LLC
21 March 2018   679

The fall of altcoins is almost complete. Analysts of Fundstrat Global Advisors LLC adhere to this opinion. This is reported by Bloomberg.

According to their estimates, altcoins have fallen by 75% in the last 64 days. This was preceded by an unprecedented take-off of the market, which allowed many of them to update historical highs and lasted 62 days.

Analysts analyzed the trajectories of the last three drops of altcoins and came to the conclusion that each time the fall lasted about the same time as the preceding growth. Thus, according to Fundstrat, the probability that the recession remains in the past is great.

At the same time, Tom Lee and his colleagues believe that it is too early to prepare for a new wave of growth.

During previous cycles, the recession was followed by a consolidation period, which lasted from 70 to 231 days, analysts write in a note. In this regard, they advise their customers to keep assets in the near future in larger crypto-currencies, for example, in bitcoin.

We believe the current purgatory period will last for 150-175 days, implying a bull market for alt-coins really starts mid-August to mid-September. The reason for this longer duration is the current dark clouds overhanging crypto are really alt-coin specific.
 

Fundstrat Global Advisors LLC

Earlier, the US Securities and Exchange Commission initiated an investigation into a number of cryptocurrency start-ups that distributed their tokens through the ICO, suspecting that they could sell securities in this way. These tokens, among other things, form a segment of altcoins.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   235

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.