The Secret Service has been tracking crypto criminals.
Researchers remain optimistic on Bitcoin's price action.
And grab your notebooks.
The wolf of Wall Street is offering a crypto class to anyone willing to pay for it.
My name is Deezy.
This is your nightly crypto news wrap-up.
Let's get it!
No longer just capturing counterfeit money rings,
the Secret Service is also tracking illicit Bitcoin proceeds on the blockchain,
which is the public ledger for all crypto transactions.
The Secret Service is now the primary agency investigating the illicit use of digital assets.
David Smith is Assistant Director of the Office of Investigations.
One of the guiding principles of the blockchain is that it was a public ledger that's shared,
and everyone with a little bit of computing power has access to it
to include law enforcement.
So the Secret Service isn't doing anything that wasn't the original intent of the blockchain.
We're just using the same tracking and tracing mechanisms that were intended.
So would you say that crypto is actually more traceable than good old-fashioned cash for a criminal?
In many ways, it is.
The Secret Service isn't just tasked with protecting the president
and identifying counterfeit Founding Fathers.
As of late, they have been cracking down on cybercriminals that use crypto
to process illegal transactions or launder money.
Since the blockchain is known for its transparency via the public ledger,
the Secret Service has an entire department endlessly scanning the blockchain for unwanted activity.
It's not a bad thing for the criminals that there's so much volume to hide behind.
There are millions and millions of crypto transactions every week,
and they commonly use more transactions than necessary
to make the breadcrumbs harder to follow.
To combat this,
the Secret Service is actively tracking the wallet addresses of suspicious users
to create something similar to a heat map to connect the dots.
The men in black have also been sending subpoenas to exchanges to stop criminal wallets.
They identify the identities of people who use those wallets,
and they follow the money between known criminals and unknown senders.
So far, after closing the book on 254 cases, the Secret Service has seized over $100 million.
It's faulty thinking if you believe that crypto is a sneaky way to hide from Big Brother.
In actuality, you're better off using good old-fashioned clean cash.
The rollercoaster ride of Bitcoin continues to take us for a loop.
And history shows us that we have never had two bullish years
back to back since its inception.
As some investors still have their laser eyes set on that illustrious $100K price point,
and other people wouldn't be surprised that Bitcoin fell as low as $25K this year,
recent research indicates that it's unlikely that the price will drop below $25K
since long-term HODLers are not willing to sell.
It's scary to see the 200-week moving average linger around $20K.
Not to mention a Market Cipher blood diamond confirmed on the weekly chart just last week.
It gives me hope that short-term holders are still buying the dip,
institutions are still buying Bitcoin,
and the 2-day charts indicate that we've been putting in higher lows
since the price flirted with $33K level back in January.
Most indicators are telling us that the price is bearish on the long-term timeframes,
but the bulls are still fighting strong in the short term.
Keep a close eye on Bitcoin's price action and Bitcoin dominance
when considering your altcoin positions.
Speaking of altcoin positions,
let's check in with Frankie Candles for your nightly market watch.
Alright, guys. Let's jump in and do a little market watch here.
We got Bitcoin coming in at $41,476.
Up about 1.6% on the day.
Ethereum coming in at $3,104.
Up about 1.7% for the day.
Now, let's go ahead and check our top gainers.
We got GMT up 16% on the day to make for an almost 70% gain on the week.
GMT is going absolutely nuts.
ApeCoin up 12%
THORChain up about 10% on the day
Aave up 8%
And ICON up 7.9%
Guys, we're getting a little pump for Bitcoin.
Very nice to see.
Remember, we do have a lot of bearish signals on the higher timeframes,
but always remember,
Bitcoin's going to do what Bitcoin wants to do.
Always good to see some green.
If you guys want to follow me,
it's Frankie Candles on YouTube or @Frankie_Candles on all socials.
Back to the news.
Thanks, Frank!
Former Bitcoin non-believer Jordan Belfort is now offering an educational "mastermind" workshop
at his villa in Miami Beach.
In classic Wolf of Wall Street fashion,
this weekend's long crash course is available
to those willing to pay the hefty price of one full Bitcoin for admission.
The first of these classes took place last weekend,
and those who experienced the intimate financial experience
were picked from a pool of 600 applicants.
Besides learning about crypto strategy, the metaverse and DeFi,
cryptoslate.com reports that the students also spent time riding jet skis,
yachting around and eating dinner in the wolf's den--
I mean, the villa.
I understand that the students intentionally paid
for massively overpriced crypto course for the experience alone,
but if you're on the outside looking in,
you do not have to spend thousands upon thousands of dollars
to learn the ins and outs of this industry.
So not exactly ethical to squeeze that amount of money out of it.
But he's the wolf.
What do you expect?
Not too long ago, he was calling crypto a mass delusion, a sinking ship.
Now, he's more than happy to cash in on a forage opportunity.
If you want to learn extensively about crypto,
how to read charts and capitalize on your gains,
be sure to check out the BitLab Academy.
Unlike the wolf,
we teach you everything you need to know to take your portfolio to the next level
for only $30 a month.
That's all I got.
Deezy out.