PlusToken was a Chinese cryptocurrency Ponzi scheme that posed as a cryptocurrency wallet. PlusToken pulled an exit scam in 2019, taking a whopping $2.9 billion in crypto funds, with 180,000 BTC, 6.4 million ETH, 111,000 USDT, etc.
BTC dump from 14000$ to 6400$ could have been caused by PlusToken. And now it can happen again, as PlusToken moved its holdings of 12000 BTC today.
Learn more about Plus token
Technical Analysis -4H
According to Bitcoin 4H Chart (bitmex) , Bitcoin price is still trading in an uptrend channel. Channel resistance at 10400-10500$ is not tested yet. As discussed in our this week’s market update, We are expecting a channel retest around 10500$, and rejection from there to 9500$ area.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
Subscribe To Our Newsletter
Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.
You have Successfully Subscribed!
Subscribe to get notified on latest posts.