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American entrepreneur and vocal crypto advocate John McAfee has launched a polemical meme cryptocurrency dubbed “WHACKD.” 

The token’s full rubric — “Epstein Didn’t Kill Himself” —  was revealed in McAfee’s Nov. 11 Twitter announcement on Nov. 11. 

A dead billionaire, the former first lady… and pizza

The image used to advertise WHACKD — a portrait of Hillary Clinton with eyes fixed cravenly on a pair of dangling feet, as she clutches a slice of pizza — point to McAfee’s conspiratorial take on the death of billionaire Jeffrey Epstein this August.

While an autopsy of Epstein’s death concluded that he had committed suicide in prison, the case has since become shrouded in controversies. The billionaire had been arrested in July on federal sex trafficking and conspiracy charges pertaining to the alleged abuse of hundreds of young girls. 

Since he was found dead at the New York Metropolitan correctional center on Aug. 10 — having been briefly under, and then removed from, suicide watch — the deceased’s lawyers have said they are not satisfied with the handling of the autopsy. 

The billionaire’s web of relationships with President Donald Trump, former President Bill Clinton and Britain’s Prince Andrew — and questions surrounding how far his alleged abuses would have been known to them — have provided fertile soil for a host of conspiracy theories and online memes to take root.

McAfee — who has repeatedly voiced his skepticism as to the suicide line — told reporters earlier this week:

“The man was six-foot-one, he hung himself from a bed that was only five-foot-seven in a manner that managed to break his neck in multiple places similar to someone being physically strangled. His cellmate was taken from his cell six hours before his death, the video cameras were off and the guards in that cell block were sent home early due to cleaning.”

“You add all that stuff up, and I don’t see how a suicide is possible,” he added.

WHACKD’s protocol design

McAfee’s WHACKD asset is a “deflationary” ECR20 (Ethereum-based) token and will reportedly be issued via airdrop on Friday, Nov. 15, with an immediate listing on McAfee’s decentralized cryptocurrency exchange.

The ad hints at a distinct protocol design, indicating that “10% of all transactions will be burned (WHACKD!) + 1 out of 1000 transactions will be burned (WHACKD!).”

Whether or not the token is real will presumably become clear by the week’s end.

As reported yesterday, McAfee upheld his staunch libertarian line in an interview this week, arguing that authorities should not require crypto firms and trading platforms to help them control digital currency use in illicit activities. 

He said he gives primacy to the “societal impact of giving people freedom from a […] corrupted government” over the “small part criminals are going to play in this technology.”

Cointelegraph By Marie Huillet , 2019-11-14 10:01:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock

Nick Chong , 2019-11-10 12:00:38

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