Cryptocurrency

Bitcoin Scam plus the token moves to 117 million USD in BTC

The Bitcoin price has now recovered from his last crash and moved back above the USD 9,000 mark. But maybe the Comeback is not of long duration. A Blockchain Research company has found that plus token, one of the most successful pyramid schemes in the Crypto-Space, and 13000 BTC on the Mixer has transferred. Before us is a strong sell-off, and thus, a possible Bitcoin price crash?

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The plus token Scam on the track

Plus token remains on everyone’s lips. The fraudulent System of China at the time, about 3 billion USD, mainly in Bitcoin and ETH, the collected customer and the dust made. Since then, the plus token trying the crypto Scam currencies to wash over so-called Mixer, and sell to selected markets.
The Blockchain Research firm Ergo watched for some time the activities of the plus token Scam. It looks, however, not right after a close to the sell-off, as in September and November of last year. However, we might get an additional sale to feel the pressure soon.

It will sell for plus token, always more and more difficult BTC to

According to Ergo, the operator of the plus token Scams selling since August of last year BTC and ETH. The sum, which will be sold, but has declined in the recent period. This could be due mainly to the fact that now the addresses of all plus tokens are known, and some exchanges will not be accepted.
In addition, the Funds can be up to Exchange track, but you can’t always see whether it came finally to a sale. Partly because the Wallets of the purses will be used to washed-out traces of the stolen Bitcoin and Ethereum more.

Impact on the Bitcoin price in the

The Team of Ergo, said, however, that it is relatively likely that the Funds will be sold on the exchanges then. We remember last year: we were able to see directly on the Chart, that large quantities were sold to BTC and ETH from the plus token Scam.
Another reason for the decline, the seller could be the current price. The masterminds behind the plus token Scam could, in theory, are waiting for higher prices per Bitcoin.
The 13,000 BTC at a recent Bitcoin exchange rate of 9,100 USD more than 118 million USD in value. This sounds in the first Moment, of course, to a large sum. In view of market capitalization and the daily trading volume of Bitcoin, such a sale would have but probably not a large impact on the price.
However, it can lead to a short-term Manipulation. In General, the Dump of the criminals is exploited to at the same time, some of the Short positions. So you can use a double lever, in order to earn on the falling rate in addition.

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Plus token experts keeps in suspense

On the other hand, there are some experts who continue to be concerned by the additional selling pressure. The renowned technical Analyst and trader Jacob Canfield sees a reason for caution.
He said:

Thank you to Ergo for your hard work on this issue, but it looks as if the Plus Token Ponzi scheme has more Bitcoin. It is time for caution and care on the markets.

The potential impact of the possible sale on the Bitcoin exchange rate, if it takes place, depend very much on how, when, and over what time period this takes place. Due to the large range of variables, some traders remain – see Jacob Canfield – in the short term, be careful.
On the other hand, there is now the possibility of “cheap” BTC from the plus token sales to come. We will continue to monitor the Situation and keep you up to date. Don’t panic!

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(Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.