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Shortly from the Cryptoworld 24/03 | Telegram, China, A bear signal for Bitcoin

3 min read
Shortly from the Cryptoworld 24/03 | Telegram, China, A bear signal for Bitcoin


Telegram users can use PolySwarm malware detection


PolySwarm, a crowd-sourced cyber threat detection platform, announced today that Telegram users and channel mods can now use a free tool called the Scanbot – to stay protected from malicious content. Messaging app Telegram is used by over 200 million people around the world; and has proven to be a great communication vehicle for individuals and companies. Unfortunately, Telegram is also an attractive target for bad actors looking to exploit the platform and people. From cryptocurrency stealers and miners, Telegram has seen its fair share of scams.


The PolySwarm ScanBot can be added to Telegram groups where it will proactively scan and render verdicts on whether the materials being shared in the group are malicious. Once added to a group, the ScanBot will notify members when something malicious has been detected; and with admin permissions, it will delete the post. Individuals can also directly submit suspect material through a private message with the bot, and get details and warnings about the artifact. More details.


Interest in searching for Bitcoin in China is rising.


With so many people around the world working from home, social distancing, and self-quarantining after possible exposure to COVID-19, online searches surrounding cryptocurrencies have gotten a bump. Chinese search engine Baidu has seen a considerable jump in searches for “Bitcoin” (BTC). The data index shows searches for BTC increased by 183% over the past thirty days, while the number of those looking for information on the cryptocurrency on mobile devices also shot up.


The interest may be related to the theory that a global economic meltdown may lead to a growing value for the cryptocurrency as a hedge against the banks. With a large portion of the world population now more plugged in than ever, it’s not surprising many have taken an interest in Bitcoin. However, the number of search results regarding buying the cryptocurrency are markedly higher than those seeking to sell it. More details.


Tim Draper focused on the crypto markets in India. Not the only one


Billionaire investor and the winner of thousands of Bitcoins (BTC) in the Federal Bureau of Investigation’s 2014 Silk Road auctions, Tim Draper, has set his sights on India’s nascent cryptocurrency industry. The venture capitalist tweeted that the Supreme Court’s recent reversal of the Reserve Bank of India’s (RBI) ban on banks providing financial services to crypto companies will drive a renaissance for the country’s cryptocurrency sector.



The VC emphasized the crucial timing of the Supreme Court’s decision, predicting that the benefits of cryptocurrencies will be highlighted by the deterioration of the global financial system:

“The Supreme Court of India and the Indian government have shown that the best ideas ultimately prevail, and just in time, because the benefits of Bitcoin and crypto over current systems will become apparent during this crisis.”

Long term, Draper expects that the current crisis “will allow people to recognize that Bitcoin is simply a better way to hold value and spend money than through our current banking system.” More details.


A bear signal for Bitcoin? The correlation with the S&P 500 is at a 2-year high


Cryptocurrency market research firm, Santiment, pointed out that the recent market downturn resulted in a high correlation between Bitcoin and the traditional financial markets. According to Santiment, Bitcoin’s correlation with traditional equity cyclically moves from negative to positive values. The coronavirus pandemic, according to the firm, resulted in the growth of this correlation:

“With this pandemic, we are obviously seeing very similar movements in tandem as the coronavirus justifiably has investors in virtually every sector in a similar state of cautiousness.”

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