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₿itcoin reached $66,402. -2.16%

♢Ethereum reached $3,240.   -3.28%

What we will talk about today...

📊 Bitcoin Analysis: BTC’s Recent Moves

🛑 Goldman Sachs CIO: Crypto Isn’t an Investment Class

🔗 Onecoin’s Legal Head Jailed for 4 Years

🎬 Pharrell, Lil Wayne, and Coi Leray Join Doodles’ Animated NFT Film

Bitcoin Analysis: BTC’s Recent Moves

Bitcoin’s price has been fluctuating, moving between $66,182 and $69,199 in a day. This shows a tug-of-war between buyers (bulls) and sellers (bears).

📊 Day Chart Overview: The 1-day chart shows a lot of ups and downs. If the price goes above the highest point or drops below the lowest point, it might be time to buy or sell.

📈 4 Hour Chart Overview: The 4-hour chart shows periods of stability followed by price jumps. The $64,511 level is a key point where buyers step in. But if the price falls below this with a lot of trading, bears might take over.

🕒1 Hour Chart Overview: The 1-hour chart gives a closer look at recent price changes. It shows a slight drop and new resistance levels. Look for signs of a trend change, like higher highs and lows, to spot buying opportunities.

📉 Oscillator Overview: Different oscillators are giving mixed signals. Some are bearish, while others are neutral. This means the market is uncertain, so tread carefully.

📈📉 Moving Average Overview: Short-term and long-term moving averages tell different stories. Short-term averages suggest caution, while long-term averages show strength. This means there’s some short-term risk but long-term potential.

🐂 Bullish View: Despite the short-term risks and mixed oscillator signals, the key support levels and long-term averages suggest a positive outlook. The market seems ready for an upward move.

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🐻Bearish View: On the other hand, sell signals from some oscillators and short-term averages suggest caution. The mixed oscillator signals and active sell signals hint at possible downward pressure.

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Goldman Sachs CIO: Crypto Isn’t an Investment Class

Sharmin Mossavar-Rahmani, Goldman Sachs’ Wealth Management CIO, doubts the value of cryptocurrency as an investment. She believes that bitcoin and other cryptocurrencies don’t create value and compares the crypto hype to past speculative bubbles like the tulip craze in the 1600s.

📉 Crypto Isn’t an Investment Class: Mossavar-Rahmani doesn’t see cryptocurrency as a valid investment class. She stresses Goldman Sachs’ doubt about crypto, saying, “We’re not crypto believers.” She insists that bitcoin “doesn’t create any value.”

💰 Valuation Difficulties: Mossavar-Rahmani points out the challenge of valuing cryptocurrencies accurately. Unlike traditional assets that produce earnings or dividends, cryptocurrencies don’t have underlying fundamentals for valuation. This uncertainty raises questions about the reasons for positive or negative sentiment in the crypto market.

🏦 Goldman Sachs and Crypto: Despite Mossavar-Rahmani’s doubts, Goldman Sachs has entered the crypto space. The bank started a crypto trading desk in 2021, offering products linked to bitcoin and ether. But it doesn’t trade the actual crypto assets.

🛡️ Regulatory and Criminal Concerns: Mossavar-Rahmani also worries about cryptocurrencies being used for criminal activities and stresses the need for regulatory oversight. She highlights the importance of legal frameworks and checks and balances in keeping trust in the financial system.

🌐 Different Views Within Goldman Sachs: While Mossavar-Rahmani is wary of crypto, other Goldman Sachs executives recognize the growing interest in crypto among institutional investors. Max Minton, the bank’s head of digital assets in Asia Pacific, says many of Goldman’s biggest clients are looking into crypto.

Mossavar-Rahmani’s doubts about cryptocurrency show Goldman Sachs’ careful approach to the asset class. Even though the bank has joined the crypto market, its CIO’s views highlight the ongoing debate within financial institutions about the legitimacy and value of cryptocurrencies as investments.

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Onecoin’s Legal Head Jailed for 4 Years

Irina Dilkinska, the supposed legal and compliance head of Onecoin, has been sentenced to four years in prison by a U.S. court for her role in the cryptocurrency scam. U.S. Attorney Damian Williams stated that Dilkinska was instrumental in money laundering and victimizing millions, contributing to the vast Onecoin pyramid scheme.

🔒 Onecoin’s Irina Dilkinska Sentenced: The U.S. Attorney’s Office for the Southern District of New York announced Dilkinska’s sentencing, emphasizing her key role in the Onecoin scam. She received a four-year prison sentence after admitting to conspiracy to commit wire fraud and money laundering.

🛑 Role in Onecoin’s Fraudulent Activities: Dilkinska, recognized as Onecoin’s legal and compliance head, was actively involved in the company’s fraudulent operations. Her duties included daily operations and money laundering, including arranging the transfer of $110 million in fraudulently obtained Onecoin proceeds to a Cayman Islands entity.

💰 Scale of Onecoin Fraud Scheme: The announcement highlighted the massive scale of the Onecoin scam, which drew over $4 billion in investments from victims. Onecoin, founded in 2014 by Ruja Ignatova and Karl Sebastian Greenwood, falsely presented itself as a legitimate cryptocurrency but was actually a fraudulent pyramid scheme. The scheme’s promotional materials claimed over three million investors and billions in sales revenue.

🔗 Legal Outcomes and Financial Penalties: Besides the prison term, Dilkinska, a Bulgarian citizen, was ordered to forfeit an enormous $111,440,000. This hefty penalty underscores the gravity of her role in perpetuating the Onecoin scam and defrauding unsuspecting investors.

⚖️ Ongoing Legal Action Against Onecoin: Dilkinska’s sentencing is part of a series of legal actions against individuals linked to Onecoin. After fraud and money laundering charges against founder Ruja Ignatova in 2017, several insiders have faced significant penalties. For example, Karl Sebastian Greenwood was sentenced to 20 years in prison in September 2023 for his role in the scam.

The sentencing of Onecoin’s legal and compliance head highlights the ongoing efforts by authorities to hold those responsible for cryptocurrency scams accountable and protect investors from financial fraud.

Pharrell, Lil Wayne, and Coi Leray Join Doodles’ Animated NFT Film

Doodles, an Ethereum non-fungible token (NFT) series, plans to release an animated film with music in summer 2024. The film, “Dullsville and the Doodleverse,” will feature a soundtrack and voiceovers from artists Pharrell Williams, Lil Wayne, and Coi Leray.

🎬 Doodles’ Animated Film with Star Cast: “Dullsville and the Doodleverse,” set for a summer release, aims to offer a unique storytelling experience. The film will feature the voices of Pharrell Williams, Lil Wayne, and Coi Leray, enhancing the excitement for fans.

🌟 Voice Cast Details: In the animated film, Coi Leray will voice “Deysi,” and Lil Wayne will voice “Captain Stoke.” Doodles highlighted that the film will merge its unique style with a cinematic approach, presenting the artists in a fresh perspective.

💥 NFT Sales Boost Post Announcement: After the film’s announcement, Doodles NFT sales surged by 318% on Thursday, indicating increased collector interest. The Doodle NFT collection has made a remarkable $648.49 million in secondary NFT sales since its launch, establishing it as a desirable digital asset.

🌐 Global Release Plans Shared: Doodles shared that the film will have a global release following its premiere as part of the “Project Gray” campaign. The immersive experience will start in early summer and end with a premiere at the Toronto International Film Festival. Lil Wayne, aka ‘Weezy,’ expressed his enthusiasm for the project on social media.

The partnership between Doodles and music stars Pharrell Williams, Lil Wayne, and Coi Leray is set to offer a memorable animated experience for global audiences, signifying a key moment in the fusion of art, entertainment, and technology.

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