Bitcoin Developer Jimmy Song Explains How ‘Altcoins Are Unequivocally Immoral'

Last week, prominent Bitcoin developer, educator and entrepreneur Jimmy Song explained why he is not a fan of altcoins. Song is the author of the book “Programming Bitcoin”, which is available on Amazon.

Timeline of Bitcoin

Jamie Dimon, JPMorgan CEO, said cryptocurrencies are dangerous “Ponzi schemes” that put billions of dollars at risk every year. The JPMorgan CEO told the House Financial Services Committee on Wednesday, that he is a major skeptic of crypto tokens and digital such as bitcoin.

Publicly traded sustainable Bitcoin (BTC) mining firm Iris Energy has signed a deal with investment bank B. Riley Financial per which the latter can buy up to $100 million in equity over the next two years.

The crypto trader who nailed Bitcoin's collapse during the 2018 bear market is predicting an imminent capitulation phase for BTC. In a new strategy session, crypto analyst Tone Vays tells his 121,000 YouTube subscribers that he sees Bitcoin going through a painful leg down in the coming days.

Bitcoin price slowly moved higher above the $19,000 resistance. BTC is currently (11:10 UTC) consolidating above the $19,000 level. It seems like the price might start a fresh increase if it stays above the $19,000 zone.

Ironbeam is a U.S. registered Futures Commission Merchant (“FCM”​) which offers trading on crypto nano futures thanks to a partnership with Coinbase Derivatives. The brokerage charges no commission* on these Bitcoin and Ethereum contracts, as well as requiring low margin.

A well-known crypto strategist and analyst, Pentoshi, who had predicted the end of the bull market, has revealed his bullish stance towards Bitcoin (BTC) and another currency, Solana (SOL). The analyst tries to claim his stance by informing his 612,000 followers over Twitter that his earlier bearish approach has flipped towards the ongoing bull run.

The price of Bitcoin (BTC) is in a downtrend as the largest cryptocurrency turns down from the 21-day line SMA. Buyers' recovery attempts failed as they were able to break the 21-day line SMA.

Bitcoin is facing hurdles to build its upward momentum and start a bull run, continuously falling below its resistance level at $22K. Crypto strategists and analysts have predicted a significant crash for Bitcoin this year, wiping billions of dollars from the crypto market.

Bitcoin on-chain indicators such as coin days destroyed and HODL waves suggest that BTC holders are hanging on and accumulating. The post Bitcoin Accumulation Phase Intact, Is a Bottom Finally In?

After a plunge of almost 20% between 15 August and 25 September, Bitcoin stabilized near the $19,000 level on Monday. However, Bitcoin whales kept dumping the world's most valuable crypto asset during the recent market correction, according to the data published by Santiment.