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Disclaimer: Not financial advise. Purely observations only. One is advised to do own due dilligence if intended to take actions.
We all know the herd is almost always wrong in the markets. Investors are piling up on the short side and setting a record which last time we have seen it was in 2001, when gold price was still around 270-300$ before it started its major bullish move towards 1900$. This is a major warning sign for the bears that a short squeeze is just around the corner, so be careful.
Personally, I’m still not long gold, I’m going to wait for a nice setup before pulling the trigger. Or if gold bulls break and hold above 1200$, I will start taking this reversal signal very seriously. It’s better to enter a bit late after a confirmation than entering early and suffer the drawdown in the trade.
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It’s a case of an old scam in a new wineskin.
Customers of electric utility companies in the state of Hawaii are being targeted by scammers who are relying on the relative anonymity offered by cryptocurrencies.
The fraudsters are calling the customers of power firms that include Hawaii Electric Light, Maui Electric and Hawaiian Electric claiming that they have overdue bills. Further, the customers who include businesses are being threatened with immediate disconnection if the bills are not paid promptly using bitcoin.
According to Khon 2, a television station, reports of the scam started emerging earlier this month. Per Utilities United Against Scams, a consortium of over 100 electric, natural gas, and water utilities in the United States and Canada, hundreds of fraudulent calls have so far been reported. In one of the islands in Hawaii, O’ahu, three businesses have already fallen victim to the scam and have ended up paying hundreds of US dollars at bitcoin ATM machines. “They weren’t even overdue, but the scammers sounded so convincing that these business owners were willing to pay,” corporate communications director of Hawaiian Electric, Shannon Tangonan, said. “They actually went to a bitcoin machine as directed by these scammers and fed cash into the machines…”
The modus operandi of the fraudsters involves picking random targets and inducing panic and fear that they will be left without power. In some cases, customers of the utility firms were sent emails complete with ‘disconnection notices’ that bore an outdated letterhead of one of the power companies. The emails also contained a QR code meant to be scanned at a bitcoin ATM machine.
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Gold or crypto in
the next twelve (12) months...which asset
will outperform the other. Your thoughts? 📈🤔
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