RATE Group | PlusToken Scam Selling Could Dump BTC Price For the Next Two Months
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PlusToken Scam Selling Could Dump BTC Price For the Next Two Months

28 Nov PlusToken Scam Selling Could Dump BTC Price For the Next Two Months

Posted at 11:19h in Bitcoin News by

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This year has yielded significant price action for Bitcoin (BTC), both to the upside and to the downside. Bitcoin’s price recently fell to around $6,500 as selling pressure continues to plague the market. 

Recent data from crypto-Twitter analyst Ergo shows such selling is possibly due to further liquidation of 200,000 BTC in funds from the alleged PlusToken ponzi scheme. 

Ergo said in a tweetstorm:

“If my numbers are correct, the 200k BTC estimates reported earlier this year were correct, and market impacts will continue for some time.” 

Back in August, Cointelegraph reported on some of the funds thought to be associated with the PlusToken operation — a total movement of 22,923 BTC on August 17. 

The alleged PlusToken scam is said to be one of the most sizeable exit scams the crypto space has seen thus far, Cointelegraph said in a separate report.  

Crypto researcher Ergo conducted fairly extensive research on the subject, looking at various wallets thought to be…

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