The ups and downs of Bitcoin, scams are also growing

Cryptocurrencies start to rise again last week. The Bitcoin has reached over $ 45,000 and most altcoins have seen a rally. But they also go up the number of Bitcoin scams on cryptocurrencies big enough to reach headlines. Which perhaps explain (partially) the decline seen over the weekend by all currencies. And not just the only stock market trends over the past seven days, as he explains Orlando Merone, Country Manager of Bitpanda in Italy.

Bitcoin on the rise, but scams are also on the rise

Bitcoin had a generally positive moment last week. The cryptocurrency has reached the value of 45 thousand dollars. Not his best but a good upside. But the ascent did not last. As Bitpanda’s Orlando Merone explains, “over the weekend there was the opposite effect, as major cryptocurrencies such as Bitcoin, Ethereum, Cardano and Solana are back in red. “.

Perhaps the decline in confidence can be explained, even if only in part, by two major scams that hit the headlines last week. On the one hand, the alleged theft of 4.5 billion dollars in BTC. Merone explains that accused of the alleged crime is a couple from New York. “The couple, Heather Morgan, also known by her rapper name Razzlekhan, and Ilya Liechtenstein, are accused of laundering billions in BTC and face up to 25 years in prison.”

Another scam comes straight from the Twitter feed. Merone explains: “In a tweet, the user thomasg.eth reported a cryptographic scam attempt of which he was almost a victim. The scammers pretended to be his business partners for a long time, while in reality they were trying to scam him, trying to get him to transfer his crypto assets for an NFT project. The user luckily avoided the attempt in time. “

But there are also future investment opportunities that many analysts find attractive. For example, the brand advocate Josh Gerben communicated that McDonald’s is requesting the production of NFT to run a virtual restaurant in the future metaverso. We will soon be able to order a McFlurry in virtual reality as well.

All this news from the tech world has marked a fluctuating week in stock exchanges around the world, with continuous ups and downs. Also due to the Ukraine issuewith all major European forces and the United States strained for a possible confrontation on the Soviet front.

You can get more detailed analysis on the investment possibilities and risks from Bitpanda.