Bitcoin and crypts fall while Trump announces it has COVID-19

Bitcoin and cryptos have recorded a drop in prices, mainly after Trump announced positive COVID-19.

Bitcoin and the cryptos as well as the Asian stock markets have shown falls in their prices earlier today. After U.S. President Donald Trump announced that he and his wife had tested positive for COVID-19.

Yesterday the day started with an upward trend. Yesterday the day started with an upward trend. It seemed to be sustained until it became known that the U.S. Futures and Commodities Trading Commission, CFTC, together with federal prosecutors, filed a lawsuit against the BitMEX exchange. Accusing its executives of facilitating unregistered trading activities in accordance with local laws.

Since then, Profit Revolution and the cryptos began to decline, their prices have been unstable. But that’s not all. In fact, more than 32,000 bitcoins were removed from BitMEX in less than 24 hours after the news.

In addition, in a tweet, Trump said he and first lady Melania Trump had tested positive for COVID-19. And, that they would begin their quarantine process „immediately.

In the U.S. markets, S&P 500 futures fell by about 2%. Meanwhile, at around 8:00 am New York City BTC was priced at USD $10,460, 3.99% less than the same time yesterday.

On the other hand, gold rose by 0.32% during the day. To stand at USD 1908 after falling to a low of USD 1888 in the early hours of Asian trading.

Bitcoin Begins New Month in Bullish Trend

Altcoins also down

Now, not only BTC reacted, but also the rest of the cryptos, the other altcoins are in the red even more than BTC. This can be seen from our online crypto tool.

Some of the drops are Ethereum (ETH) at 6.63%, Litecoin (LTC) at 6.24%, Bitcoin Cash (BCH) at 5.50% and Monero (XMR) at 10.79%. Meanwhile, Bitcoin stands at USD 10,528, obtaining a decreasing variation of 3.03% in the last 24 hours.

For now, Trump will be put in quarantine as he enters the last month of his reelection bid. On the other hand, we’ll keep an eye on what happens with Bitcoin and the cryptos around their prices.

NGO BTC Chile reveals names of „multilevel“ crypto scams operating in that country

The non-governmental organization with emphasis on educating about digital currencies, NGO Bitcoin Chile, published a statement in which it warns about the proliferation of scams with crypto-currencies at the local level, which operate under a multilevel business model.

The organization, also known as the Chilean Association of Crypto Technologies, indicates in the press release which companies make use of this type of offer.

Also known as network marketing or multilevel network marketing. To capture people taking advantage of the existing lack of knowledge associated with these assets and their associated markets.

Regarding the organizations mentioned above, the NGO Bitcoin Chile warns that in view of the illegality of this type of operation. The organizations take advantage of legal loopholes to make their offers through legally constituted companies.

They use the marketing of a product or service that appears to be their main market. This is displaced by the recruitment of referrals.

Among the organizations that operate under this system, the NGO names scams such as: AirBit Club, OneCoin, Trust Investing, Bitcheke, EasyBizzi, iMarkets Live iM Academy, Bitcoin Value, Mind Capital, Forsage, Toway Group, NeuronetMX, Dyzine, Bitcoin Vault, Kuailian, Arbistar, Kuvera, Stratus Academy, iComTech, Weltsys and Aenternam Group