Weekly Crypto Recap with NewsCrypto
Welcome back, NewsCrypto enthusiasts! It's time for another edition of the Crypto Recap.
Today we are going to tell you the secret of how to make money before the Bitcoin halving as well as how to stay safe from the recent Patreon phishing scams.
Let’s dive right in.
What's on the menu today?
1. Breaking Crypto News
2. Crypto Fear and Greed Index
3. BTC TA Analysis
4. Don't Fall for This Phishing Scam
5. Funny meme
· Trump vows to not allow CBDCs if he is elected as president.
· A judge ruled that Trudeau infringed truck drivers’ freedom in 2022 by banning their Bitcoin crowdfunding.
· DeFi may come to the Bitcoin network sooner than expected.
· US government started selling their stash of Bitcoins.
· BlackRock’s spot Bitcoin ETF hit $2 billion in Assets Under Management (AUM) in 2 weeks.
Do you want to read more about each piece of news?
Check out the News section on our educational platform here 👇🏼
Crypto Fear and Greed index
Bitcoin TA Analysis
· Bitcoin Weekly Time Frame
Last week weekly chart was starting to look bad but the latest weekly candle close turned this upside down. After the sweep of the highs and pump into buy side liquidity we got the exact opposite - sweep of the lows and dump into sell side liquidity. This is bullish because despite all of the selling that was happening below $41k Bitcoin still managed to get above its previous month-long support zone.
· Bitcoin Daily Time Frame
Our thesis is still valid and now became even more likely to play out. If you don’t know what we are talking about read the newsletter linked below👇
Bitcoin could stay in the $41k-$45k range while $ETH goes on a run of its own to catch up to Bitcoin and if this happens we will get a mini altseason.
If you position yourself correctly you could make lots of money before the “pre-halving dump” happens.
Don't Fall for This Phishing Scam
Crypto users have reported a surge in suspicious emails, seemingly originating from Patreon. These emails, masquerading as legitimate communications, are actually part of a cunning phishing scheme. The scam involves fraudsters signing up victims for Patreon, only to bombard them with malicious emails from fake crypto projects.
A Closer Look
The scam came to light around January 23, with users reporting fake airdrop offers from Patreon creators impersonating well-known projects like Chainlink, Solana, Manta Network, and Sui. These emails are a trap, designed to lure victims into revealing sensitive information or accessing harmful links.
Patreon Support acknowledged the issue on January 25, claiming to have resolved the problem related to email verification and false claims of being a Patreon creator. However, despite their assurances, reports of scam emails continued to flood in, raising questions about the effectiveness of their measures.
A Growing Concern
This incident is not an isolated one. In 2023 alone, over 324,000 cryptocurrency users fell victim to phishing scams, with losses totaling a staggering $295 million. This trend underscores the importance of heightened awareness and robust security measures.
How to Stay Safe?
In the face of such sophisticated scams, what can you, as a crypto user, do to protect yourself? Here are a few tips:
1. Email vigilance: Always scrutinize emails, especially those related to crypto transactions or airdrops. If it sounds too good to be true, it probably is.
2. Double-check sources: Verify the authenticity of any communication by checking directly with the source, be it a crypto project or a platform like Patreon. And if you don’t remember signing up to a platform like Patreon there is a 99.99% chance it’s a scam so just ignore the email.
3. Enhanced security measures: Use multi-factor authentication and maintain strong, unique passwords for all your accounts.
The Patreon phishing scam serves as a stark reminder that in the digital gold rush of cryptocurrency, not every email is a nugget. It's a wild world out there, and while the crypto landscape offers unprecedented opportunities, it also harbors sophisticated threats.
Funniest Meme of the Week