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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Dr. Doom Roubini Fuels Criminal Crypto Concerns With Scathing Bitcoin Op-Ed

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read

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Sentiment across the United States pertaining to the crypto market is at an extreme low, despite Bitcoin rallying above $10,000 and kicking off what appeared to be yet another bull run for the bubble-bound crypto asset.

The fear and panic stems from tweets originating from the United States President, Donald Trump, condemning crypto, Bitcoin, and Facebook’s Libra currency. Following Trumps remarks, other politicians came out of the woodwork to challenge the emerging crypto asset class and attempt to deal it a death blow. With crypto on the ropes, to no one’s surprise comes Dr. Doom, Nouriel Roubini, attempting to spread additional fear throughout the media.

Roubini Takes Opportunity to Kick Crypto While It’s Down

Following a week of turmoil in crypto markets as Bitcoin struggles with bearish sell pressure, altcoins have been capitulating, and the entire financial and government sector is up in arms over Facebook’s Libra crypto asset, which has caused an uproar from policymakers who are uncomfortable with a corporation viewed as evil becoming so powerful, they control people’s money.

As if things weren’t uncertain enough, Nouriel Roubini, a Bitcoin and crypto pundit known as Dr. Doom, has released a scathing opinion editorial slamming Bitcoin, cryptocurrencies, and pointing out their illicit uses – essentially throwing fuel on the already burning hot flames.

Related Reading | Trump Blasts Bitcoin For Illicit Use As NY College Is Hit With $2M Ransomware 

In his opening statements, he charges that “crypto has given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors.”

Politicians like Trump don’t respond well to being called out in public, and likely that’s what Roubini is hopping for by saying regulators have been “asleep at the wheel” when it comes to wrangling the wild west environment the crypto industry has existed as for much of its life.

My new column where I expose the shady rekting racket that is @BitMEXdotcom run by the thug @CryptoHayes: evasion of AML/KYC, front-running, insider trading, massive scale money laundering, gouging of clients, etc.
The Great Crypto Heist by Nouriel Roubini https://t.co/79UsmlZxdr

— Nouriel Roubini (@Nouriel) July 16, 2019

In the piece entitled “The Great Crypto Heist,” he says that “routinely launched and traded outside the domain of official financial oversight, where avoidance of compliance costs is advertised as a source of efficiency. The result is that crypto land has become an unregulated casino, where unchecked criminality runs riot.”

He even says that some of the bigger players in the space, using BitMEX as an example, are involved in “systematic illegality,” he also points out that using BitMEX, even just a 1% move could trigger a margin call and wipe out all of one’s investment.”

Related Reading | US Congressman: You Can’t Kill Bitcoin, Libra And Others Trying to Mimic 

Worse yet, he says that he’s learned BitMEX is used daily for “money laundering on a massive scale by terrorists and other criminals from Russia, Iran, and elsewhere” which are chief concerns surrounding the digital asset class.

He says its “high time that US and other law-enforcement agencies stepped in.” They agree, and have started stepping in. What’s next for crypto will be its defining moments.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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