Ladies and gentlemen, welcome back to another video. I hope you guys have all been doing well in this episode. We're going to be going over some very important crypto news that you need to know about. There are some major crypto crackdowns going on in several other countries outside of the us, and we're also going to be talking about ways that you can protect yourself from bitcoin scams.

I've been getting a lot of emails, a lot of messages, and i know a lot of people have either seen a scam, have ever been a victim of extortion. So we're going to be going over some strategies that you should know in order to protect yourself as well now other than that. Don't forget to like this video, if you guys have not yet already and let's hop into the computer and see what's happening for today. All right guys, so bitcoin is sitting at 32 849.

We saw bitcoin dip below 32 000 for a very brief moment and right now the global crypto market cap is sitting at 1.35 trillion dollars or a 0.72 percent increase over the last day. So, just in the last 24 hours, you're going to be noticing a little bit of green a little bit in a life in an overall red climate that we've been experiencing in the last seven days - and i know a lot of you guys are wondering brian - is This, what we're gon na experience for the next year or so, is this really it? Where is all of that money gone from cryptocurrency and even meme stocks? I know amc right now is having a pretty rough day as well, and i believe this is all part of the natural cycle we've seen this happen many times before, but i do not believe that we're just gon na be sitting here stagnant in this zone till The end of the year and we'll be going over at the end of the video exactly my reasons. Why now? On top of that, you guys ethereum is up 2.66, but alongside ethereum and dogecoin, which is down about 14 to 15. We're currently noticing a pretty significant drop in the price in the last seven days and anytime.

Ethereum is under 2, 000 or even 1900, which i believe is a really good steal at that point. If ethereum dips below anything more than that or we see any type of flash crash, i do believe that is a quick sale and a quick opportunity to make money in this market. Now. Ethereum has shown time in and time out to have a bit more volatility than bitcoin, which can be a very good thing if you are entering these swing trades or if you're, trying to make more money off of your investment.

For me, i was heavily diversified into ethereum. I still am. I am still about half and half with bitcoin and ethereum, and i still believe ethereum is gon na have a much better opportunity to go past three thousand dollars at the end of this year. So i'm still holding on to these investments, i'm still very hopeful for it, but the reason why we do focus on bitcoin anytime.

We have a crypto, scam or just any type of big news. It's always involving bitcoin because they are still the largest cryptocurrency to exist and they are still the most well-known anytime. You have a conversation about cryptocurrency before we had the whole dogecoin hype and we had the ethereum nft d5 space riding up to the moon, usually for the most part, most people just didn't know about other cryptocurrencies aside from bitcoin. If they knew the term crypto, they would oftentimes know bitcoin and not much other than that, but it's just a good testament to know exactly the development of what we're seeing with cryptocurrency now out of all the things that have been happening just within the past few Months ever since we've been having bitcoin sliding back down into the 30 000 range, i believe the silver lining out of all this is that this crypto market boom that we experienced where bitcoin was riding to 60 000.

We started to reach so many more different audiences. Rather than just the financial sector, so now we have even like faze clan. We got like instagram influencers, other youtubers, always talking about cryptocurrency, so it really looks like this past crypto boom that we did experience. I consider it just such a good development to the community and i believe that was really just the fire that set spark now.

What we really need is for new money to start going back in or even bigger, wallets to start opening up. So we have that momentum in price, i'm still very hopeful to see where we are going to be at the end of the year and if things are looking sideways and you are not feeling too great about crypto. That is completely okay, too, because i know a lot of new investors have entered the space and it can be a little churning of the stomach, seeing your money go down to what it was before, but that is all part of the journey and for the most Successful traders or investors in the space that i personally know they oftentimes just hold through the season, don't take it emotionally and just ride the wave. So, on top of that, you guys let's talk about some crypto news, especially what's going on in the market, so huge, huge stuff.

The uk police went ahead and seized a record 250 million dollar haul of cryptocurrency in london yesterday morning now this was seized by the mets economic crime command and they received intelligence relating to the transfer of criminal assets. There isn't too much details on this case. Right now, but it definitely looks like it was off of money laundering offenses. So, alongside that, japanese police went ahead and arrested four men, allegedly behind a 55 million crypto investment scheme.

So four alleged masterminds of the oz project have been arrested after duping investors across japan. For at least four years now, that's a long time. According to investigators, the scheme raked in 55 million dollars from about 20 000 investors promising 2.5 times returns in four months. According to investigators of four men arrested, i i'm not even gon na pronounce their name, but they were 59 years old, 61 years old, 46 years old and 52 years old.

Surprisingly enough, they are much older than your average demographic of schemers. I believe, usually it's it's under 40 to 30 years old, most people who are in their later 50s. I don't think they would be involved in projects like this, so they also reported that investigators suspected that the group began duping people four years ago and holding seminars across japan. The group allegedly told investors that their funds would be invested in cryptocurrency using an automated ai trading system, which in fact did not exist now.

This is a really key point of this story, so automated ai trading systems, if you guys, have been watching these youtube videos and you ever see like a whatsapp scammer number or you see any other instagram accounts, oftentimes they're, they're gon na say. Oh, we have like a bitcoin mining rig. That's gon na promise, you double returns or we're gon na have an automated ai trading system, which oftentimes does not work either. Now this doesn't mean that crypto bots don't ever work.

I personally never use them. I don't see the value in them at all, but the reason why i am so suspicious of that entire niche is just because we have a lot of scams related to as well, so guys always be careful when anyone tries to guarantee you. Investment returns be very skeptical about that we are seeing some crypto crimes come up on the rise, but, like i mentioned way back, maybe a month or so ago, the whole fine lining that you have to realize is we're gon na get a lot of stories like This and whenever you hear things like this, you can take it in two directions. Yes, it's bad news because cryptocurrency is getting related to crimes again, but this could also be very good news just because we're seeing law enforcement stepping in and knowing how to take care of this, and it doesn't show immunity to the criminals.

Thinking that cryptocurrency is going to be truly anonymous and they're going to find a way to always, you know, stay hidden and get away with their crimes. So i think this is still overall really good for the crypto community. Just because we're getting cleanup of this and we're naturally going to see criminals trying to take advantage of all of the decentralized products that exist on the market, just to scam, regular joe schmoes, like us, on the market. Now, if you are curious at all on how much money is going into crypto crimes, here's what you need to know so.

New report released by digital asset intelligence, firm, cipher, trace on june, 2nd the value of ill-gotten funds siphoned through cryptocurrency crimes over the first five months of the year, stands at a whopping, 1.4 billion dollars, thus making 2020 a potentially active year in regard to cryptocurrency related Thefts, hacks and fraud. You do also have to realize this is when we had the crypto market boom a lot of new investors coming into the market, not knowing the difference between a scam and legitimate project, and on top of that, just because of the whole pandemic. A lot of people were at home and a lot of people were getting emails and text messages or getting added to these whatsapp and telegram groups full of scams. So i do believe this year is logically one of the worst years, just because of the boom that we saw in the market for 1.4 billion dollars compared to the overall market cap and how much money is actually traded on a day-to-day basis.

Even though over a billion dollars is still a lot, relatively speaking in comparison to the total volume of cryptocurrency activity that we normally see, it really isn't too much. In my opinion, the report goes on to state that if the things continue at the same rate, the total volume is stolen. Crypto for 2020 has the potential to get close to reaching the 4.5 billion mark set in 2019.. Now, what's really interesting about all this, is they also mention the use of bitcoin atms? So there are many other cryptocurrencies that exist that hide your identity like monero.

There are some really good privacy coins, which would be much smarter to use if you were a criminal uh, but they tend to use bitcoin because of those bitcoin atms. You may have noticed pop up, maybe in your area, so bitcoin atms really allow them to cash out their crypto literally get cash and start cycling that money back after they're able to scam their victims out of their money. So there is an argument right now that bitcoin atms may not be useful. Maybe they should be limited right now, just because for the most part, your average consumer is not using a bitcoin atm.

If you're using a coinbase account, you can naturally just deposit that into your checking account and then go to your bank and then pull money out. That way, i do see the importance of having bitcoin atms, but right now where we are in terms of the growth stage, especially with the early adaptation of crypto bitcoin atms, seem to be used more specifically with criminals than your everyday joe. Now because we talked a lot about crypto and a lot of criminals using it, you might have this impression that bitcoin is worse or cryptocurrencies worse than fiat, but you also have to realize that this is not the case. Uh there's a quote right here.

The reality is that criminal use of bitcoin and other cryptocurrencies is still very low. Less than 0.2 percent of the funds accepted by exchanges, which is directly from criminal sources, so as time goes on, i do believe because we are early, we're gon na still hear a lot of stories of criminals using cryptocurrency or bitcoin for malpractice. Uh. Here's one solution that you can look into so this is called bitcoinabuse.com and this is pretty much a database where you can report or look up the wallet addresses so because bitcoin is stored on the blockchain, which is a public ledger.

You can see how many transactions they've done. You can see where they send their money uh how much they're receiving it. It gives you a lot of information. You can't hide any of that.

That's still how cryptocurrency works so with that, if you do ever get like a very sus amount of crypto, you can actually look up that address and see if it has been known to be a scammer or someone who is trying to steal you out of your Money, so just as an example, here's how it works - and they also mention here - do not pay ransom. Extortion. Emails are 100 fake and you can learn more about different ways to protect yourself. So click on this random wallet address right here that a scammer probably uses.

So you can see people have reported them for blackmail, scam whatever it is. This seems to be in another language. So let me find one that's in english right here. Okay, this is in russian english, okay, so here's an example, so this wallet address probably sent out an email saying: hey you got ta, send us bitcoin or we're gon na expose you for whatever reason and a lot of that is just criminal activity.

It's pathetic and you can look them up on bitcoinabuse.com and pretty much with this information. You can verify that they are scammers, so this is just gon na be another valuable tool that you can take advantage of and making sure that you protect yourself. So you don't get bitcoin stolen from you or you don't become a victim of extortion. So in other news we had a very cool whale spotting, so whale from 2012 transferred 740 bitcoin worth 26 million dollars after bitcoin sat idle for nine years.

So what this means is someone went ahead and bought 740 bitcoin at five dollars per coin about nine years ago, and now a story like this just shows the importance of how beneficial it could be to hold your bitcoin for a very long time. Nowadays, with amc. Gme and other meme stocks, and even with cryptocurrencies that we've seen blow up this past year, we can be very impatient with our investment. We can think hey if we're not making money right now we're not seeing 20 gains every week, then we're failing.

You have to realize that this individual went through many many winters and he's finally unlocking his crypto after nine years. Just imagine where crypto is gon na be nine years from today. It is going to be absolutely insane and if you ever think about selling your investment. Just really consider it twice, because when you are going long, there is going to be so much more benefit to holding and taking out your emotions rather than getting impatient and selling anytime.

You see a dip in the market, so i hope at least that sticks with you guys so right now we're not seeing the best news with cryptocurrency and as we continue to progress through july, we're seeing less and less volume going into it. So, according to this article, it states that cryptocurrency trading volume decreased significantly in june, according to data from crypto, compare a price and volume tracking organization volumes, traded diminished by at least 40 month on month, with spot and derivatives trading, both suffering due to the mining and Trading crackdown in china, amongst other factors, the resulting volatility seems to have made traders lose interest. Now, on top of that, internet traffic to exchanges also fell drastically. Exchanges got 369 million visits in june a drop of 42 month on month, according to research from the block.

So the main points to take away from at least this episode is to encourage you guys to know that going along with cryptocurrency is going to always be a winner strategy. It's going to be hard to time the market and whatever is happening right now, whether it's outside of our control or not. You have to realize that with investments like this, patience will always pay off. On top of that, you guys be careful of the crypto scams.

There's going to be a lot of that, you may have run into that yourself. Uh just be very careful and use some of the tools that i've shared with you in this video. If you are ever unsure now, i hope you really enjoyed this video. Like always, don't forget to comment down below the secret phrase for today, and that is gon na be shoebox comment that down below, if you guys, are watching this video all the way till the end don't forget to check out the links down below in the description Deposit, a hundred dollars into weeble and get two free stocks, one value up to eighteen hundred fifty dollars.

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