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Investors Outraged at How Binance Conducted BTT Sell-Off, Tron Fighting Fake BTT Airdrops

  • Yuri Molchan
    📰 News

    Justin Sun tweets about fighting with BTT airdrop fraud sites, CZ boasts of fast BTT token sell-off, promising that slow buyers will get an extra BTT drop from Tron


Investors Outraged at How Binance Conducted BTT Sell-Off, Tron Fighting Fake BTT Airdrops
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The BitTorrent team reports that currently, on the wave of the rising interest in BTT coins, numerous fraudulent websites have appeared, offering free giveaways of BTT in exchange for small fares in crypto.

Justin Sun, BitTorrent: to protect and to serve

Tron’s file-sharing platform team reminds users that genuine BTT coins can be obtained only through the original BitTorrent airdrop campaign, finding the details on the company’s official site.


As per them, BTT will start trading on February 12 on particular crypto exchanges. This event will specially be reported on social media.

The BitTorrent and Tron teams are currently busy taking down web platforms spreading fraud regarding free BTT airdrops.

Binance BTT sell-off completed. Investors furious

Binance CEO CZ reports on Twitter regarding the BTT token sale that took place on Binance Launchpad on Monday, saying that BTT were sold in two sessions: for TRX and BNB. All BTT tokens were gone instantly, but due to technical issues, it all took slightly longer than expected – “18 minutes instead of 18 seconds”. The token sale brought $7.2 mln for 59.4 bln BTT going to investors.

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However, CZ also writes that a great many investors just had no time to buy BTT. In the comments below CZ’s tweets, users wrote that the sell-off began with 28 percent of tokens already sold, calling that manipulation.

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Others complained that all BTT tokens were bought by crypto whales, expressing their disappointment and even anger at the way the whole thing was carried out.

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Changpeng Zhao promised that the Tron team will conduct an extra free BTT airdrop for those who failed to buy the tokens on Monday.

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It Could Take Bitcoin 22 Years to Retest Its ATH: UBS Analyst


It Could Take Bitcoin 22 Years to Retest Its ATH: UBS Analyst
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The fact that Bitcoin saw its price breaking above $5,000 at the beginning of April made everyone highly optimistic about the prospects of a full-fledged bull run. However, crypto bulls shouldn’t hold their breath since it could take decades for the number one currency to recover from its epic downfall.

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Bitcoin compared to other bubbles  

After comparing Bitcoin to other bubbles, UBS analyst Kevin Dennean came to a conclusion that BTC will most likely follow their lead, Business Insider reports.
However, here’s a catch – Bitcoin will have to undergo a long-lasting recovery, so it is not reasonable to expect another bull run in the nearest future. For comparison, it took the Dow Jones Industrials 22 years to reach its previous peak.   


‘We're struck by how long it took other asset bubbles to recover their peak levels (as long as 22 years for the Dow Jones Industrials) and how pedestrian the annualized returns from trough to the recovery often are,’ Dennean claims.

Bitcoin compared to other bubbles  

Picture: ©FactSet

With that being said, it is still not guaranteed that a certain bubble retests its ATH even after decades since a big burst. Nikkei, despite reaching its 20-year highs in October 2017, was still 50 percent lower than its ATH that was recorded in 1989.

Nikkei

Picture: ©ATLAS

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When you lose, you win

During the peak of the crypto market, Bitcoin was frequently compared to the infamous tulip mania, but these two barely had anything in common (except for the horrible stability of value). Hence, it hardly makes sense to apply a certain pattern and expect Bitcoin to behave in a similar fashion to other bubbles.

Historically, enormous price crashes actually benefited Bitcoin. As reported by U.Today, Bitcoin trader recently noticed that the BTC price rise 5.1-16.89 times every 70+ percent plunge. Crypto bulls have every reason to expect a similar outcome this time around.

'Shadow of bull statue on texture tiles floor metaphor of bull market is coming for stock market or investment asset' image by 123rf.

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