Crypto Industry News:
The new Chainalysis study shows that terrorists are improving their financial operations using cryptocurrencies.
Blockchain analysts identified the Izz ad-Din al-Qassam (AQB) Brigade, a Hamas military arm, and noted that the terrorist organization is the first confirmed case when terrorists use cryptocurrencies to support their activities.
AQB used the website to generate a new Bitcoin address for each donor to deposit funds. The site also contained an instructional video on donations with maximum anonymity. Compared to similar previous campaigns, AQB has collected the same amount of money from more donors, but almost half the rate.
Cryptocurrencies have previously been associated with crime, including Ponzi schemes and hate crimes. In other recent studies, Chainalysis has tracked down $ 2.8 billion in Bitcoins from criminal enterprises to stock exchanges. Over 50% – $ 1.4 billion in Bitcoins – went through the major Binance and Huobi exchanges.
Cryptocurrency crimes have caught the attention of regulators and government officials who would like more oversight of digital currencies. Last year, Treasury Secretary Steve Mnuchin, speaking at a meeting of the Special Group on the Prevention of Money Laundering (FATF), praised global regulatory standards that would combat cryptographic crimes.
The FATF, whose 200 countries, including the United States, are promoting measures to combat financial crime, are now demanding that exchanges know more about customers and transactions. More data will help identify money laundering and terrorist financing on stock exchanges that largely do not have the oversight needed to combat this growing problem.
Technical Market Overview:
The ETH/USD has reversed from the level of $178.12 after the Pin Bar candlestick pattern was made. The bears have broken out form the local consolidation zone located between the level of $178.12 – $172.91 and managed to hit the technical support at the level of $163.11 and the low was made at the level of $159.93. Currently, the market has bounced slightly and is consolidating around this level because the bounce is very shallow so far. If the bearish pressure intensifies again, then the next target for bears is seen at the level of $157.37 and $151.37. Please notice that this is a quite strong technical support zone due to the short-term ascending trendline presence around these levels.
Weekly Pivot Points:
WR3 – $219.38
WR2 – $198.31
WR1 – $181.78
Weekly Pivot – $161.46
WS1 – $144.93
WS2 – $123.85
WS3 – $107.13
There is a possibility that the wave 2 corrective cycles are completed at the level of $115.05, so the market might be ready for another impulsive wave up of a higher degree and uptrend continuation. This strategy is valid as long as the level of $146.94 is not violated. Nevertheless, the larger timeframe trend is still down and all the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend until the level of $196.61 is cleary broken.
The material has been provided by InstaForex Company – www.instaforex.com