BTC to Fall Under $6k, Tom Lee Thinks

Bitcoin’s painful start of the year isn’t over, according to co-founder of Fundstrat Global Advisors
16 March 2018   866

The fall of bitcoin, which began in early 2018, will continue in the near future, says Wall Street analyst and co-founder of Fundstrat Global Advisors Tom Lee. According to him, the coin lost 60% of the price after the historic record in the region of $ 20,000, and continues to show signs of a drop to $ 5873, Bloomberg reports.

As Lee noted, the news about strengthening regulation, as well as the decision of Facebook and Google to ban advertising of crypto-currencies and ICOs significantly affect the digital assets market.

When sentiment is this weak, the market is increasingly ’fire, ready, aim’ - meaning, any headline today is likely to trigger selling. 

Tom Lee

Wall Street analyst; co-founder, Fundstrat Global Advisors

The report notes that the price of bitcoin almost doubled after falling below $ 6,000 in January, but could not overcome the $ 12,000 mark. In addition, over the past eight days, bitcoin first broke the support level at $ 9325, and this Wednesday - and the level of $ 8,370. The next two levels of support - $ 7535 and February $ 5873, the report says.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   103

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.