Analysis Crypto by Thebittimes.Com

Netflix has debuted a new crypto documentary, Bitconned . The movie begins in Miami’s decadent 2017 ICO era and ends, years later, in guilty pleas to criminal fraud. One quote from Centra founder Raymond Trapani encapsulates the storyline: “We lied, we cheated, we made millions of dollars. And now I’m facing over 100 years.” According to friends and family members, Trapani had aspired to be a millionaire since childhood. He even had a juvenile scheme in which he acquired pharmaceuticals using a stolen pad of prescription paper. After reselling drugs on the street and earning thousands of dollars in illegal profits, police apprehended Trapani and his friends. “It’s disappointing that he turned out to be the way he is,” said one of his former drug dealing partners. Miami Exotics The gaudy excesses of Miami quickly became the backdrop for Trapani’s criminal masterminding. He co-founded Miami Exotics, a doomed luxury car rental business, where he met Sam ‘Sorbee’ Sharma. T...

The future collapse of fiat currencies could propel Bitcoin to $1 million in the next five to 10 years, according to Jan3 CEO and Bitcoin proponent Samson Mow. Despite the ongoing bear market, Jan3 CEO and Bitcoin (BTC) proponent Samson Mow believes that the leading cryptocurrency could reach the $1-million-price benchmark in the next five to 10 years . The collapse of major fiat currencies will be a major catalyst, which he said can “happen very rapidly” and “are not anticipated.” ”It just sort of happens overnight, and then you are shoveling cash into a wheelbarrow,” he said in a recent interview with Cointelegraph. Mow made his prediction while commenting on the current state of Bitcoin adoption in El Salvador, about a year after it was adopted as a legal tender. Mow said he sees El Salvador’s move as an overall success, despite the relatively low usage rate and uneven availability of Bitcoin payment infrastructure in the country. “You’re basically recreating traditional banking...

BTC price action strengthens into the November monthly candle close, but traders are already warning over getting too "cocky" on Bitcoin. Bitcoin (BTC) attempted to flip $17,000 to support on Dec. 1 after sealing its lowest monthly close in two years. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin gains inch up as November end Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $17,100 in a second intraday charge at higher levels. The pair managed to avoid losses as the monthly candle close d, instead seeing solid daily gains of around 4.5% for Nov. 30. Nonetheless, Bitcoin shed 16.2% for the month , making November 2022 its worst since 2019. BTC/USD monthly returns chart (screenshot). Source: Coinglass The more buoyant mood coincided with comments from the United States Federal Reserve. In a speech on inflation and the labor market, Chair Jerome Powell openly stated that smaller interest rate hikes could begin as soon as Decemb...