4 Cautionary Crypto Tales From the Crypt

4 Cautionary Crypto Tales From the Crypt

Witches, vampires, and ghouls. These Halloween beasties have nothing on every Bitcoiner’s worst nightmare: losing one’s digital gold in a fluke accident or misstep. We can practically hear you screaming at your screen right now.

In honour of Halloween season, we’re exploring four spine-tingling tales of brutal Bitcoin losses. We also throw in a little treat towards the end and reveal how you can make a killing on crypto with a LonghornFX account, without actually buying any Bitcoins. Intrigued? Read on to find out more.
1. IT guy chucks $127m Bitcoin in toxic landfill
British IT professional James Howells began mining Bitcoin on his personal laptop back in 2009 and by 2013 had amassed an impressive 7,500 Bitcoins. He sold the laptop on eBay but held on to the hard drive in the hope that his Bitcoins would increase in value. But while clearing out his house later that same year, he accidentally threw the drive away, which ended up being dumped in a Welsh landfill. When he realised his mistake, Howells desperately tried to get permission to search the landfill for his drive. His request was denied on the grounds that it was dangerous due to the toxicity of the landfill, plus it simply went against the law.

Fat lot of good that would have done him, anyway. With 50,000 tons of refuse added to the site every year, searching for one tiny hard drive would have been a much bigger problem than finding a needle in a haystack. Still, it may have just been worth the undertaking. It’s estimated that around 2017, when Howells realised what he’d done, his 7,500 Bitcoins would have been worth in excess of $127 million.

2. Aussie loses $7m Bitcoin after investing life savings
In a moment of mid-life crisis, former Australian journalist Derek Rose decided to do what for many would be the unthinkable. He withdrew his entire $70,000 life savings and invested it all into Bitcoin. Seeing that his initial capital was growing exponentially with the Bitcoin boom of 2016, Rose even started borrowing more money to increase his investment, and was soon earning close to half a million dollars a day.
But rather than listen to his financial advisor and friends who encouraged him to cash out while the going was good, Rose continued to ride that wave of euphoria and poured even more money more into crypto. Then the Christmas crash of 2017 hit and Rose saw his multi-million dollar account take a massive hit. He lost around $7 million at the time. Thankfully Rose didn’t lose everything. “This was a huge blow, but it didn’t wipe me out […] I’m still doing better with my investments than I would have if I had stayed in index funds.” Moral of the story: what goes up, must come down. No bullish rally will continue forever.

3. Tech journo forgets Bitcoin wallet PIN
Sometimes even the world’s most reliable tech geeks make massive errors. After amassing some $30,000 in Bitcoins, Wired magazine editor Mark Frauenfelder lost access to his crypto wallet. “I wrote my PIN code and recovery seed on the same piece of paper. I was planning to etch the seed on a metal bar and hide it, but before that happened my house-cleaning service threw the paper away,” he explained.

Frauenfelder was ready to kiss his Bitcoins goodbye when he finally met a stroke of good fortune. Thirteen months after losing his PIN, Mark was introduced to Saleem Rashid, a 15-year-old coding whiz from the UK. With Saleem’s help, Mark managed to hack into his crypto wallet and successfully retrieve his PIN and subsequently his Bitcoins. We bet Frauenfelder won’t be misplacing his new PIN any time soon!

4. Software designer wipes away $20k
When Bitcoin first began to cause a stir on the web back in 2010, Atlanta-based software developer Syl Turner thought he’d try his hand at mining and managed to earn himself two whole Bitcoins. As Bitcoins were worth pennies at the time, Syl didn’t give them much thought and eventually ended up storing his mining computer in his attic.

Fast forward a few years later and suddenly Syl sees a news alert pop up on his screen: Bitcoins are now worth $10,000! Syl shot straight up into the attic to retrieve his dormant PC. He found what he was looking for but when he booted the computer up, he realised he had mistakenly wiped the hard drive, meaning his crypto wallet key had vanished. That one mistake cost Syl $20,000, at the very least. If Syl still had access to his crypto wallet and HODLed, he may have seen his Bitcoin climb much, much higher.

Profiting from Crypto made simpler
Thankfully, there’s a much easier and cost-effective method of profiting off Bitcoin, without the risk of losing hard drives or extra complicated PINs to crypto wallets. By trading Contracts for Difference (CFDs) on LonghornFX, you can profit on over 35 cryptos by trading on whether the price of the underlying crypto asset will rise or fall.

Trade on Bitcoin, Ether, Ripple, and more popular altcoins, all with 1:500 leverage. Open a free LonghornFX account and trade from as little as a $10 deposit!

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Binance (BNBUSD) Price; Bulls Defend $26 Support Level, Price May Rally Towards $31 Price Level

Binance (BNBUSD) Price; Bulls Defend $26 Support Level, Price May Rally Towards $31 Price Level

BNBUSD Price Analysis – November 06

The breakup of the $29 resistance level with the daily candle closes above the mentioned level will make the price rally towards the resistance level of $31, which may progress to $33 provided the bulls maintain their pressure.

BNB/USD Market
Key levels:

Supply levels: $29, $31, $33
Demand levels: $26, $24, $22

BNBUSD Long-term Trend: Bullish

On the daily chart, BNBUSD is bearish. The bearish momentum is getting weak. The bearish movement commenced on October 28 when the bulls could not break up the resistance level of $31. The coin declines under the pressure of the bears and the support level of $26 was reached. The bulls defend the support level of $26 and this hinders the breakdown of the level by the bears. The Doji star candle pattern is formed and the price has started an uptrend move towards the $29 price level.

BNBUSD Daily chart, November 06

The breakup of the $29 resistance level with the daily candle closes above the mentioned level will make the price rally towards the resistance level of $31, which may progress to $33 provided the bulls maintain their pressure. In case the bears defend the resistance level of $29, the bearish trend may continue and the price may reach the previous low at $22 provided $26, and the $24 price level is penetrated. Meanwhile, the relative strength index period 14 is pointing up above 40 levels to indicate a buy signal.

BNBUSD medium-term Trend: Bullish

The Bulls are taken over the BNB market. The bearish pressure could not break down the support level of $26. Bullish Engulfing candle pattern formed; this triggers the bulls’ momentum, the coin is testing the resistance level of $29 at the moment.

BNBUSD 4 hour chart, November 06

The 9 periods EMA is crossing the 21 periods EMA upside and the coin is trading above the two EMAs to indicate further increase in price. The Relative Strength Index period 14 is pointing up at 60 levels to indicate a buy signal.

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Binance (BNBUSD) Price Bounces at $18 Support Level, Targeting Resistance Level at $30

Binance (BNBUSD) Price Bounces at $18 Support Level, Targeting Resistance Level at $30

BNBUSD Price Analysis – September 12

Further increase in price is envisaged and the resistance level at $30 is likely to be tested. The breaking up of the just mentioned level will expose the coin to $35 and $41 price level. In case the increase in price is interrupted by the bears, the price may reverse and face the support levels at $24, $22, and $20.

BNB/USD Market
Key levels:

Supply levels: $30, $35, $41
Demand levels: $24, $22, $20

BNBUSD Long-term Trend: Bullish

The price was reduced to $18 demand level on September 05. The bearish pressure pushes the coin to test the support level at $18 but unable to reduce it to the $16 price level. On September 06, a strong and massive bullish engulfing candle emerges that break up the former resistance level of $22, price retracement was carried out the following day. The bulls gathered more momentum and push the price to break up $24 and $26 price levels. BNB price is heading towards the resistance level at $30.

BNB Daily chart, September 12

The 9 periods EMA is above the 21 periods EMA and the coin is trading above the two EMAs as a sign of a bullish trend. Further increase in price is envisaged and the resistance level at $30 is likely to be tested. The breaking up of the just mentioned level will expose the coin to $35 and $41 price level. In case the increase in price is interrupted by the bears, the price may reverse and face the support levels at $24, $22, and $20.

BNBUSD medium-term Trend: Bearish

BNB price has formed an ascending channel in the 4-hour chart and the price is soaring higher within the channel. In other words, the price is bullish in the medium-term trend. BNBUSD is trying to break up the upper trend line, if the candle breaks and close above it, then, the price may test the resistance level at $30 within a short period of time.

BNB 4-hour chart, September 12

The price is trading above the 9 periods EMA and 21 periods EMA couple with the Relative Strength Index period 14 pointing up at 70 levels indicate that the bullish trend may continue.

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BINANCE (BNBUSD) Price May Continue Ranging Movement Within $24 and $22 Levels

BINANCE (BNBUSD) Price May Continue Ranging Movement Within $24 and $22 Levels

BNBUSD Price Analysis – August 28

A breakup at the $24 level by the bulls may lead to the soaring of the price to $30 level in which further increase will increases the price to $35. The continuation of the bears defending the $24 resistance level may drop the price to the previous low at $20; below the level is $18 support level.

BNB/USD Market
Key levels:

Supply levels: $24, $30, $35
Demand levels: $22, $20, $18

BNBUSD Long-term Trend: Ranging

The coin is conforming to a triple top chart pattern in the daily chart. August 05 was the first time the coin tested the resistance level at $24. The second time took place last week on August 17. Today, August 28 is the third time. The support level at $20 has been tested twice when the coin was pulling back from the resistance level at $24.

BNB Daily chart, August 28

BNB is testing the resistance level at $24 as at the time of writing this report. A breakup at the $24 level by the bulls may lead to the soaring of the price to $30 level in which further increase will increases the price to $35. The continuation of the bears defending the $24 resistance level may drop the price to the previous low at $20; below the level is $18 support level. The relative index indicator period 14 is at 60 levels with the signal line bending down which connotes sell signal.

BNBUSD medium-term Trend: Ranging

Ranging movement may continue in the 4-hour chart until there is a breakout either at the resistance level of $24 or at the demand level at $20. The bulls were defending the support level of $20 preventing bullish price breakout. In the same vein, the bulls were defending the resistance at $24, preventing price decrease.

BNBUSD 4-hour chart, August 28

The price may decline provided the level holds the price and also it has touched the same level three times. However, the relative strength index period 14 is exhibiting sell signal at 60 levels.

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BINANCE (BNBUSD) Price Penetrates Support Level at $21, Further Decrease Envisaged

BINANCE (BNBUSD) Price Penetrates Support Level at $21, Further Decrease Envisaged

BNBUSD Price Analysis – August 14

Should daily candle close below the $20 level, then, the sellers will have enough opportunity to sell the coin to the low demand level at $18 and $16. When demand level at $20 continues to hold the price, the bullish trend may continue and the resistance levels may be found at $21, $22, and $23.

GBP/JPY Market
Key levels:

Supply levels: $21, $22, $23
Demand levels: $20, $18, $16

BNBUSD Long-term trend: Bearish

The strength of the buyers is becoming weak and the sellers are technically taking over the market, in order words BNBUSD is bearish. Nevertheless, amid the bearish zone, the bulls made the coin to have a change of 1.39% yesterday as the daily candle was rejected at the demand level of $20. This morning, another bearish candle emerges that is currently breaking the demand level at $20 downside.

BNBUSD Daily chart, August 14

Looking at the daily chart, the coin is breaking down the dynamic support level. The price is trading between 19 periods EMA and 21 periods EMA. The support level at $20 has been tested thrice and the price was rejected, should daily candle close below the $20 level, then, the sellers will have enough opportunity to sell the coin to the low demand level at $18 and $16. When demand level at $20 continues to hold the price, the bullish trend may continue and the resistance levels may be found at $21, $22, and $23.

BNBUSD medium-term Trend: Bearish

BNB is bearish in the 4-hour time frame. The price is currently trading below the $20 price level and more bearish candles are producing which indicates that the price may decline further. The asymmetrical triangle is equally formed with the price action and it is pressing the lower trend line of the shape.

BNBUSD 4-hour chart, August 14

The Relative Strength Indicator period 14 is above 40 levels exhibiting a sell signal. Selling the coin to the $20 demand level may likely come to play.

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BINANCE (BNBUSD) Price: Would Buyers Defend Support Level at $21?

BINANCE (BNBUSD) Price: Would Buyers Defend Support Level at $21?


BNBUSD Price Analysis – August 08

In case the sellers were able to push the price below the demand level of $21 and the daily candlestick close below the level, then, the price may decline further to test $20 and $18 demand level. Inability to break down the demand level of $21, the bullish trend may continue to target the resistance levels at $22, $23 and $24.

BNB/USD Market

Key levels:

Supply levels: $22, $23, $24
Demand levels: $21, $20, $18

BNBUSD Long-term trend: Bullish


BNBUSD is bullish on the long-term outlook. The coin broke out of the consolidation zone on July 23. The bulls acquired more momentum and pushed up the coin to reach a high of $23 on August 05. The resistance at the level prevented further increase in price and the price dropped to the $21 support level. The Bears are yet to penetrate the just mentioned level before the market closed on August 07. The bearish momentum opened the market today with the possibility of decreasing further provided the support level at $21 does not hold.

BNBUSD Daily chart, August 08

The 21 periods EMA is below the 9 periods EMA and the coin is trading closely touching the two EMAs at the demand level of $21 which connotes that the Buyers’ pressure is gradually reducing and sellers may take over the market soon. The Relative Strength Index period 14 is at 70 levels with the signal lines pointing down to indicate a sell signal. In case the sellers were able to push the price below the demand level of $21 and the daily candlestick close below the level, then, the price may decline further to test $20 and $18 demand level. Inability to break down the demand level of $21, the bullish trend may continue to target the resistance levels at $22, $23 and $24.

BNBUSD medium-term Trend: Bullish

The price action of BNBUSD has formed an ascending channel in the 4-hour chart. The price is currently touching the lower trend line of the channel. The 9 periods are crossing the 21 periods EMA downside and it is trading below the two EMAs which connotes an increase in the bears’ momentum.

BNBUSD 4-hour chart, August 08

The RSI indicator period 14 is at 40 levels and the signal lines bending up to indicate a buy signal. Suggested trade setup; Buy Stop order at $23.00, Take profit at $26.00 and Stop loss at $20.00.

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Bitcoin Cash (BCH) Rebounds, Attempts to Breach $280 Resistance

Bitcoin Cash (BCH) Rebounds, Attempts to Breach $280 Resistance

Key Resistance Levels: $275, $300, $350
Key Support Levels: $200, $160, $120

BCH/USD Price Long-term Trend: Bullish
Yesterday, BCH rebounded and broke the $250 resistance but failed to break $280 resistance. The market reached a high of $275 and became overbought. Sellers have emerged and attempting to push price downward.

The bulls are contesting the current price level with the bulls. The bears are mounting stiff resistance at the $280 resistance zone. On the downside, if the bulls turn down from the current resistance, the crypto will fall to $250 low. On the upside, if the bulls overcome $280 resistance, BCH will rise to $350 price level.

BCH/USD – Daily Chart

Daily Chart Indicators Reading:
The SMAs have a bullish crossover as the 21-day SMA crosses above 50-day SMA. BCH has also risen to level 64 of the Relative Strength index period 14. This indicates that the market is in the uptrend zone. BCH is likely to rise.

BCH/USD Medium-term Trend: Bullish
On the 4-Hour chart, BCH is in an uptrend. The bulls have broken the $250 and attempting to break the $275 and $280 resistances. A break above $280 resistance will take BCH out of the downtrend zone and begins the resumption of the uptrend.

BCH/USD 4 Hour Chart

4-hour Chart Indicators Reading
Bitcoin cash is above 80% range of the daily stochastic. This indicates that the market has reached the overbought region. Sellers are likely to emerge but the current overbought condition may not hold. The SMAs are sloping upwards.

General Outlook for Bitcoin Cash (BCH)
Bitcoin Cash is in an uptrend. The bulls are presently attempting to break the $280 resistance. According to the stochastic indicator, BCH is in the overbought region but may not hold as the trend continue its upsurge. At the time of writing, the bulls are attempting to break the minor resistance at $275.

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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All FTX Leveraged Tokens on Binance to Be Removed in a Bid to Secure Clients

All FTX Leveraged Tokens on Binance to Be Removed in a Bid to Secure Clients

The decision to remove the leveraged tokens from FTX Exchange came as a surprise to most in the cryptocurrency ecosystem. The cancellation, which is scheduled to be near completion on March 31, implies that all the leveraged tokens must be removed or turned to the Stablecoin BUSD of Binance according to their USD current value.

A few of the assets to be removed totally from Binance include BULL, ETHBULL, ETHBEAR, EOSBULL, EOSBEAR, BNBBULL, BNBBEAR, XRPBULL and XRPBEAR, as reported. Every BULL and BEAR token for their specific crypto-currency reflects a leveraged role. For instance, if Ethereum increases by 1%, ETHBULL may rise by 3%. The very same holds to ETHBEAR, in the opposite.

Binance declared it would delete all of the leveraged tokens from its website. Customers have to get their funds off Binance by March 31. In a surprising twist, Binance liquidates all the leveraged tokens from FTX Exchange.

Recently the statement was released via official Binance outlets.

FTX Exchange Review

The leveraged tokens are just too risky for clients, as per Binance’s CEO Changpeng Zhao (CZ). As said by him, they appear to “lose value with time,” and are not intended for long-term investments. CZ says people never read the warnings since it is too risky although they are among the most widely traded tokens.

The Scenario Fuels Displeasure
Most leveraged token investors suffered huge consequences as a result of the mega-crash that occurred two weeks ago.

Nevertheless, Binance appears to have no problem with its margin trading website, which is similarly unpredictable and offers 100x leverage for clients. The fact of the matter, it seems, is also that Binance was unable to make a profit out of FTX tokens, so they’ve been taken down.

Many have continued to tweet #thiefCZ as a result of the frustration stirring over on Twitter. Listing and removing many tokens, they say, in such a short space of time is equivalent to scam.

Nevertheless, the argument for CZ was not welcomed by almost everyone. Binance removed the tokens whilst being disinterested in educating the public regarding them, according to FX Exchange’s CEO.

Most say that Binance perceived FTX Exchange as a rival and decided that the partnership should be broken.

Because of late, given the uproar, it appears that leveraged tokens may never be re-added to Binance. FTX Exchange may need to deal with Binance explicitly now, instead.

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The Akbank of Turkey Set off as the First to Collaborate With Binance

The Akbank of Turkey Set off as the First to Collaborate With Binance

Akbank was established on January 30, 1948, as a private commercial bank in Adana. Its main business is banking, which consists of corporate and investment banking, commercial banking, small and medium-sized businesses, consumer banking, payment systems, treasury operations, and private banking, as well as international banking. Akbank is headquartered in Istanbul and has 770 branches throughout Turkey.

Binance announced on Monday (March 2) that Akbank, one of Turkey’s largest banks, was the first bank to ever work directly with Binance.

On its blog, Binance called Akbank “one of Turkey’s most visionary banks” and said that “users will be able to instantly deposit and withdraw Turkish Lira (TRY) to Binance through the PC and iOS app with the most affordable fees in Turkey starting today. ”

Binance co-founder and CEO Changpeng Zhao (aka CZ) said the following:

“As part of our goal to continue to work to expand freedom of money around the world, especially in a country that is increasingly embracing digital assets, we are expanding the opportunities available to lower the barrier to entry. As the industry expands with our tandem-growing products and services, the quality and method of our products and services.

Binance Expansion Project Boosts Its Image
Akbank will process fixed deposits and withdrawals for Turkish Binance clients. Utilizing the Turkish lira to purchase cryptographic forms of money on the exchange will currently be a lot simpler.

Right now, Akbank claims resources of about 341.6 billion pounds and is continually among the “Most Valuable Banking Brands in Turkey.” This is one of the most unmistakable worldwide brands in Turkey, which makes participation with Binance considerably progressively significant. Above all, it offers authenticity to the exchange in Turkey and elsewhere.

This progression can essentially expand Binance, given that Turkey is one of the main nations with regards to enthusiasm for cryptographic forms of money.

A year ago, Turkey moved to the top when it came to crypto adoption. The nation additionally plans to some time or another has its state digital currency, which will be given by the Central Bank of Turkey.

Since a year ago, Binance has been consistently growing its fiat capacities.

Toward the beginning of February, it was accounted for that Binance will bolster the Russian ruble for the payment and withdrawal of assets. The dispatch of Binance Singapore a year ago additionally encouraged exchange purchases. By and large, the exchange is continually coordinating with Mainstreet and traditional business.

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Binance Coin (BNB) Defends Current Support, Upward Move to $16 Likely

Binance Coin (BNB) Defends Current Support, Upward Move to $16 Likely

Key Resistance Levels: $22, $26, $30
Key Support Levels: $12, $8, $4

BNB/USD Price Long-term Trend: Bullish
Binance Coin fell to the low of $12 and consolidated above it. After a while, the BNB commenced an upward move as the bulls break above the EMAs. The coin is expected to rise as the price is in the bullish trend zone. In retrospect, in October, the price broke the downtrend line and closed above it.

It was assumed that BNB is in a bullish trend zone. However, the bullish trend was short-lived as the coin was repelled at $21. The selling pressure resumed as the coin fell to $12 low. The current upward move is likely to face resistance at $16 and $20. However, if the bulls overcome these levels, the coin will be out of the downtrend zone.

BNB/USD - Daily Chart

Daily Chart Indicators Reading:
The coin is likely to rise as the price bars are above the EMAs. The stochastic is indicating that the market is above the 60% range. This explains that the coin is in a bullish momentum. Nevertheless, if the price breaks below the EMAs, the selling pressure will resume.

BNB/USD Medium-term bias: Bullish
On the 4-hour chart, the coin was in a smooth bullish movement since January 3. The upward move was terminated at $15.50. The coin dropped to the low of $14 and recommenced another bullish move. The second retest makes the coin to pullback.

BNB/USD - Daily Chart

4-hour Chart Indicators Reading
The Relative Strength Index (RSI) period 14 level 63 indicates that the coin is in the bullish trend zone. Besides, the coin will rise as it is above the centerline 50. The price is retracing after the resistance at $15.50. BNB will drop if the price falls below the support line. However, if the support holds, the bulls will continue their upward testing of the overhead resistance.

General Outlook for Binance Coin (BNB)
Binance Coin is now trading in the bullish trend zone. The coin is likely to rise but may face resistance at $16. BNB will rally above $20 if the bulls overcome the resistance at $16. Failure to break through the resistance will compel the coin to fall. In other words, the market will revisit the previous support at $12.

Binance Coin Trade Signal
Instrument: BNBUSD
Order: Buy Limit
Entry price: $15
Stop: $12.50
Target: $22

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.