A new crypto scam originating in China and involving the loss of at least $1.1 billion worth of cryptocurrencies from more than 700,000 users is thought to be related to the previous Plus Token Ponzi scheme that also exited with some $2.9 billion.
Expectations are growing that Bitcoin (BTC) will increase further thanks to the halving that is approaching in less than two weeks. The current situation is convincing that the halving has a positive effect on the market.
The cryptocurrency market is showing an overall upward trend on April 26. Six of the top 10 cryptocurrencies by market cap surged, and four are lighting red indicating a fall. Bitcoin (BTC) aims to touch the $8,000 mark.
Bitcoin is closing the week as it progresses through the consolidation process in the rising trend on April 24. Cryptocurrency traders and hodlers are focusing on the upcoming halving. The overall mood and technical indicators of the market are positive.
Many popular cryptocurrencies, including Bitcoin (BTC), have opened the week in the red and BTC has receded to a little bit over $7,000 after it touched $7,300 mark. However, the market prices are on the right track to rally.