BITCOIN REVOLUTION – Is it legit or a scam?

Bitcoin Revolution is an investment scheme that has been operating online for several years and, despite the growing number of warnings, there are still plenty of people around the world who think that it just might be for real.

Anyone who has spent time in the crypto trenches knows to stay away from Bitcoin Revolution, but that hasn’t stopped less savvy people from falling prey to its claims of earning massive profits for a minimal investment.

Interest in the investment scheme appears to be especially pronounced in Australia and Europe, where searches for ‘bitcoin revolution’ have climbed higher than 12,000 per month in some countries.

In Australia, Google Trends reports that over the past week, two of the five most searched for Bitcoin-related search terms are related to Bitcoin Revolution.

Most of the searches appear to be related to researching the scam, with phrases like ‘is bitcoin revolution legit’ and ‘bitcoin revolution review’ leading the pack.

A flood of fake celebrity endorsements

One tactic that Bitcoin Revolution uses is to promote its investment scheme through the use of fake celebrity endorsements which frequently appear on Facebook, Instagram, and other platforms.

A laundry list of celebrities have unwittingly had their name and image used to promote Bitcoin Revolution, including actors Kate Winslet and Hugh Jackman, TV personalities Simon Cowell and Jeremy Clarkson, and even political figures like Goh Chok Tong, the former prime minister of Singapore.

Facebook has come under fire for allowing the ads, which typically feature a well-known celebrity or public figure waxing enthusiastic about how much they have made through their investments on the platform.

Governments warn against Bitcoin Revolution

Just last week, the Malta Financial Services Authority (MFSA) issued a warning about a scam called Bitcoin Future.

In the warning, the agency noted that “this entity appears to present the same deceitful characteristics as another entity, Bitcoin Revolution.”

The MFSA had previously issued two separate warnings about Bitcoin Revolution in January and August of this year, cautioning its citizens that “information available to the MFSA suggests that Bitcoin Revolution is likely to be an international “get-rich-quick” cryptocurrency scam.”

“The public should, therefore, refrain from undertaking any business or transactions with the entity operating under the name of Bitcoin Revolution,” it added.

In the United Kingdom, the Financial Conduct Authority issued its own warning about similar scams last year.

While it did not specifically mention Bitcoin Revolution, the FCA did warn about a similar scam called Bitcoin Loophole.

A closer look at Bitcoin Revolution (Evolution)

To decide for myself whether or not Bitcoin Revolution was legit, I created dummy accounts at three separate websites running the same-named scam.

Scam A: the-bitcoinrevolution(dot)com – I found this one searching Google for ‘bitcoin revolution’.

Scam B: profittoday(dot)net/ck/bitrevolution/ – I found this stumbling across a fake ad in which actor Robert De Niro purportedly claims to be earning “tens of thousands of euros a day” from the investment scheme.

Scam C: securelywealth(dot)com/bitcoinevolution/ – This comes from the same fake ad in which actor Hugh Jackman supposedly announced his retirement from acting due to the massive amounts of money he was making.

Note: Since Micky originally reported on the Hugh Jackman story, the website has since changed its name from Bitcoin Revolution to Bitcoin Evolution.

All three websites make the same claims – in fact, I would estimate that 80% of the content is identical from one website to the next.

Using “proprietary” automatic trading software, the websites claim that users can expect to earn as much as $1,000 to $1,300 per day.

The software is so powerful, the scam states, that some users “earned their first million within just 61 days.”

Same scam, three different platforms

Using a fake name, email address, and phone number, I created accounts on all three websites.

The signup process was quick and simple – no proof of identification or other KYC steps needed.

Once logged in, the first thing I noticed was that each website had different software powering its trading platform.

Scam A was the only one that appeared to have its own platform. Scams B and C use third-party software from MonumentTrade and GeneralTrade, respectively.

Scam A also had a demo version of their platform, which was nice. I pretend-earned over US$200 in less than fifteen minutes.

Had I actually decided to deposit money into those accounts, Scams A and B would have required me to speak with a broker or account manager. Scam C uses a payment processor called VoguePay to enable deposits using a Visa, Mastercard, or existing VoguePay digital wallet.

All three websites boast that their trading software has won “numerous awards” including “first place in the Trading Software category for the US Trading Association,” which is odd considering that no resident of the United States can use the websites.

I tried to ask for help and got nothing

None of the websites listed any contact or business registration information and a WHOIS search on all three domains showed that each owner was hiding behind a proxy service.

The only reference at all to support or customer service was on Scam A’s website. In the FAQ section at the bottom of the page, it reads:

“At Bitcoin Revolution, we are always here for you and our professional and responsive customer service team can be contacted at any time.”

Unfortunately, the only means of contacting them is through a contact form that returns an error whenever an email is submitted.

Scam B’s contact page doesn’t even exist and an email sent via the contact form on Scam C’s website has yet to send the promised confirmation email and the ticket link they provided was broken as well.

So is Bitcoin Revolution legit or is it a scam?

I’m going to have to go with a resounding SCAM on this one. There are enough red flags surrounding Bitcoin Revolution to cover a football field.

Just to recap:

• Fake celebrity endorsements
• Impossibly outrageous profit claims
• Multiple governments issuing warnings about it
• Scheme operating under multiple domain names
• Each copy of the scheme uses different trading platform software
• No business registration information
• No functioning means of contacting anyone

As Bitcoin scams go, Bitcoin Revolution / Evolution is particularly prolific and has been running in one form or another since at least 2017.

No sooner does one site get taken down than another one pops up.

Sadly, as interest in cryptocurrency continues to grow, so too will Bitcoin Revolution’s victim pool.

Don’t be one of them – do your due diligence before making any investment decisions.

 

By Cynthia Turcotte -November 5, 2019

David Ogden – Http://markethive.com/david-ogden

Can the Bitcoin (BTC) Price Surge 72% to Hit $16,000?

Last week, crypto investors were making much ado about a Bitcoin prediction that stated that the cryptocurrency would surmount $16,000 in October. As you likely know, this didn’t come true, with the cryptocurrency ending the month at around $9,300 — dozens of percent shy from the $16,000 predicted by the anonymous 4Chan predictor.

While this was a crushing blow to the Bitcoin optimists, there is still hope that the leading cryptocurrency will soon hit $16,000. That would represent a 72% rally from the current price of $9,200.

A $16,000 Bitcoin?

Changpeng “CZ” Zhao, the much-beloved chief executive of Binance, recently noted that Bitcoin may “see $16,000 soonish.” More specifically, he wrote that:

Lol, price predictions are easy. It’s just hard to be right about the timing. We will see $16k soon-ish. 1.4 billion people working on it as we speak.

The prominent cryptocurrency entrepreneur looked to the fact that China has just embraced blockchain technologies, which many analysts expect to have a positive trickle-down effect on decentralized cryptocurrencies and blockchains like Bitcoin and Ethereum. As one individual put it, blockchain is the gateway drug to BTC.

While CZ may be seen as too optimistic by cryptocurrency investors, there are some analyses that predict that BTC will soon begin to approach that range.

As reported by Ethereum World News, BitcoinGuru said that a massive head fake that Bitcoin just saw clearly satisfies a fractal — when historical price action plays out on current time frames at a different magnitude — that he has been tracking for a while now.

The fractal suggests that the recent drop and subsequent recovery is predicting a massive resurgence, one that will bring Bitcoin higher than its $14,000 year-to-date peak. He wrote that if Bitcoin closes around current levels, he expects for $16,000 to be reached by November 16th.

That’s far from the end of it. Trader HornHairs has noted that he “likes the chance we hit $14,000 before $7,000.” He remarked in a recent tweet that with BTC bouncing strong and holding above the one-month bullish breaker, the 0.618 Fibonacci Retracement of the entire cycle, the Point of Control as defined by the volume profile, and the yearly pivot, BTC is leaning rather bullish.

Nick Chong by Nick Chong November 4, 2019in Bitcoin News

David Ogden – Http://markethive.com/david-ogden

Bitcoin (BTC) Price Weekly Forecast: Signs of Bullish Continuation

• There are positive signs emerging for bitcoin above the $9,200 support against the US Dollar.

• The price is slowly moving higher and it could retest the $9,770 resistance area in the near term.

• There was a break above a key contracting triangle with resistance near $9,240 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).

• The price remains well supported and it could even surge above $9,800 in the coming days.

Bitcoin price is trading above key supports near $9,000 and $9,200 against the US Dollar. BTC must stay above $8,600 to remain in uptrend and start a fresh increase.

 

Bitcoin Price Weekly Analysis (BTC)

This past week, there was a slow and steady decline in bitcoin below the $8,400 support against the US Dollar. Moreover, BTC price also traded below the $8,200 support area. Finally, it spiked below the $8,000 support, but remained well above the 100 simple moving average (4-hours).

A swing low was formed near $8,960 and the price recently started an upward move. There was a break above the $8,100 and $8,200 resistance levels to start a decent increase.

More importantly, there was a break above a key contracting triangle with resistance near $9,240 on the 4-hours chart of the BTC/USD pair. At the moment, the price is trading near the 23.6% Fib retracement level of the downward move from the $10,584 high to $8,960 low.

If there are more gains, the price could continue to rise towards the $9,500 and $9,600 resistance levels. Besides, the main resistance is near the $9,770 level. It represents the 50% Fib retracement level of the downward move from the $10,584 high to $8,960 low.

On the downside, there are many supports between $9,200 and $8,960. If there is a bearish break below the $8,960 swing low, there are chances of a sharp decline. The next key support is near $8,600 and the 100 simple moving average (4-hours).

Therefore, the $8,500 and $8,600 support levels are likely to play an important role. As long as the price is above the $8,500 support, there are chances of a fresh increase above the $9,500 level.

Bitcoin Price

Looking at the chart, bitcoin price is clearly showing signs of bullish continuation above $9,500. Having said that, a clear break above the $9,500 and $9,770 resistance levels is needed for uptrend acceleration. In the mentioned case, the price is likely to revisit $10,580.

Technical indicators

4 hours MACD – The MACD for BTC/USD is slowly gaining pace in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is now moving well above the 50 level.

Major Support Level – $8,960

Major Resistance Level – $9,500

 

Aayush Jindal

David Ogden – Http://markethive.com/david-ogden

Here Is Bitcoin’s Ideal Buying Price (According to One Analyst)

On November 1, it was announced that the first regulated Bitcoin fund that has been available in North American exchanges will also be released in Canada.

3iQ Corp, a Canada based company received confirmation from the Ontario Securities Commission (OSC) in order to list ‘The Bitcoin Fund’ on Canada’s stock exchange. This is expected to be done by the end of 2019.

While the news has been positive, the Bitcoin price movement has been confusing, to say the least. The price has been gradually decreasing since October 25’s rapid upward move.

Cryptocurrency trader @davethewave speculated that the ideal buying price for Bitcoin is at $6700. According to our analysis, the ideal buying price may be in the low $7000s or high $6000s.

Additionally, he suggested that averaging in would be ideal — but what does that mean? Let’s analyze both the ideal price and the concept of averaging in.

Pitchfork & Volume

@davthewave used a pitchfork to create a descending channel and determine future price movement.

The ideal buy zone falls within the lower portion of the channel (blue). Since it is descending, the ideal buy price is decreasing as time goes by.

 

BTC Channel

When using the Volume profile indicator, we can see that the strongest buy area is found near $6500 — coinciding well with the buy zone given by the channel.

A decrease below this level could trigger a rapid Bitcoin price decrease.

Long-Term Bitcoin Price Analysis

Using a logarithmic chart and curved trendlines, we can see that the support line is currently at $6300 and is slowly moving upward. Therefore, we agree that the ideal buying price may be around $6700.

The concept of averaging-in means placing several orders around an average price. One example of the $6700 price would mean buying with 1/3 of the total amount of your order at $6900, 1/3 at $6700 and 1/3 at $6500.

 

Valdrin Tahiri 1 min ago

David Ogden – Http://markethive.com/david-ogden