CryptoNews

When I think about Bitcoin, the best known cryptocurrency right now, I think of a quote from Warren Buffett. "Price is what you pay; value is what you get," the 'Oracle of Omaha' wrote in a letter to his Berkshire Hathaway shareholders in 2008. "Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down." The quote highlights a couple of important points about investing. 1.The price of an investment doesn't necessarily reflect its value. 2.The lower the price you pay, the better your results. It's common sense really. And while Bitcoin and other cryptocurrencies have been around for quite a while, and have made lots of people rich, these two points sum up why I'm staying away. That is not to say that Bitcoin is going to collapse. It's just that Bitcoin doesn't make a lot of sense as an investment to me. Here are four reasons why. Bitcoin is not a productive asset When you invest...

Bitcoin scam runner and owner of Control Finance Limited, Benjamin Reynolds, was caught by the US Government after many years of investigations and search. After a court ruling, Reynolds is now charged to pay around $570 Million back for his wrongful actions. The fine included around $143 Million for committing fraud with the customers and a civil monetary penalty of around $429 Million, which was the main contribution to the huge fine. The request for the fine was submitted by the Commodity Futures Trading Commission themselves for Reynold’s scam that ruined many lives of individuals and businesses who got caught in the trap that Reynolds had set up. The investigation team at CFTC uncovered all of the activity that Benjamin was conducting. Reynolds had placed the scam trap in around May of 2017, which continued throughout the summer, ending in around October of that same year. It was reported that there were around 169 people who got trapped in Reynold’s cage.Benjamin’s Gam...

Experts warn that in a bearish setup, prices of the world’s biggest cryptocurrency could fall towards the $44,000 level or even lower A record amount of bitcoin’s options contracts worth $6 billion are expiring today. Earlier, $4 billion in options contracts had expired in January. The action in the derivatives market is most likely to dictate the price trend in the cryptocurrency over the next few months. An options contract offers the buyer the opportunity to buy or sell—depending on the type of contract they hold—the underlying asset. Experts warn that in a bearish setup, prices of the world’s biggest cryptocurrency could fall towards the $44,000 level or even lower. However, in the event of no major fall, the digital asset outlook may turn bullish. The influence of the options market on bitcoin’s spot market has increased over the past few months. We tell you what the expiry means for investors and how they can position themselves in the market. Prices of bitcoin had crack...