Why did today's BTC Crash Happen? | pNetwork, a DeFi platform is Hacked
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Crypto News: 20th September 2021
As a new day starts, Bitcoin with all other major alts are bleeding. While BTC is down by approximately 8%, most alts are hitting the 15% mark.
DeFi Hacks don’t see an end anytime soon, pNetwork, a DeFi platform, has been hacked, resulting in a loss of $12.4 million.
Moving forward we’d be talking about India, as in the face of new bulk SMS rules, Indians are opting for a government-run blockchain network.
AT&T is being sued after a SIM swap attack cost a customer $560,000 in cryptocurrency.
Crypto Investors sue Apple in a class-action lawsuit, alleging that the tech giant authorized the distribution of malicious software.
The IDO launch of the DeSpace Protocol is scheduled for September 20, 2021.
Watch our YouTube Video to learn about the above news in detail.
First news in detail:
Why is BTC Bleeding?
According to our technical analysts, a red diamond on the daily chart of BTC was seen yesterday and the crash happened today. Our analysts say they’ve never seen such a pattern. Furthermore, before a bad dump, you might see the red diamond pattern on a 4H timeframe.
Moreover, according to the on-chain analyst Willy Woo, “the SPX teetering, threatening a large sell-off. BTC carving out a Wycoffian distribution pattern, speculators selling down in risk-off mode, meanwhile, investors on-chain have been in strong accumulation. It's going to be an interesting opening to this morning's equities market.”
Furthermore, quoting Willy, “The last significant equities crash we saw was COVID19, BTC also showed strong accumulation during that time. I remember everyone saying BTC was a failed uncorrelated asset and safe haven. That was until the supply squeeze from that accumulation took hold later in the year.”
Technical Analysis
Will Bitcoin Make an ATH after today’s crash? Watch the video below to learn more:
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Have you bowed down before the great and powerful Oz? No, I’m not referring to the fictional wizard from Dorothy’s magical land. I’m talking https://coincodecap.substack.com/p/why-did-todays-btc-crash-happen-pnetwork about mass-marketed medical guru and Oprah protégé, Dr. Oz. And while he may be powerful, the scientific community is not convinced that his recommendations are all that great.