OVERVIEW

Crypto Missed The Moon, Hit The Sun, And Melted

Sometimes you shoot for the moon, and sometimes you move right on past it and end up in a star. That is, basically, what’s happening to crypto today. ✨

In today’s Litepaper: one of the craziest crypto stories I’ve read, Bitcoin fraudster put away, Microstrategy’s BTC buying spree, a short Technically Speaking and crypto news in three sentences.

Also, some of you really liked the Ichimoku and crazy wizard voodoo technical analysis. The good thing is that it’s back—but you’ll need to click here for the web version to see it!

By the way, if you've been following us on Stocktwits, you can now follow us on X @StocktwitsCrypt. We’ll see you over there! 🫡

Here's how the market looked at the end of the trading day:  

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NEWS
Well Here’s Your ‘WTF’ News For The Day

From Protos: A rescue operation freed over 600 individuals from a 'pig-butchering' crypto scam compound in Bamban, Philippines, triggered by the daring escape of a Vietnamese victim. 🚨

The group comprised 383 Filipinos, 202 Chinese, and 73 other foreign nationals, all lured into performing romance scams under severe duress, including torture and inhumane working conditions.

The operation, masquerading as an online gambling firm, exploited its captives to defraud investors through fake crypto platforms. The Vietnamese man's escape, involving a perilous climb over the compound's wall and a hideout on a farm, exposed conditions, and the use of physical abuse to enforce compliance.

Scams prevalent across Asia have amassed billions through exploitation and deceit, often leveraging $USDT in a 'parallel banking system.' 🔒

NEWS
Bitcoin Frog Fraudster Fried

Roman Sterlingov, the brains behind the notorious crypto mixing service Bitcoin Fog, has been handed a guilty verdict by a Washington jury for a laundry list of charges, including money laundering and operating without a license. 🚓

For over a decade, Sterlingov's service shuffled around 1.2 million BTC, valued at nearly $400 million, much of it tainted by darknet dealings and illegal activities. The US government is now seizing a treasure trove of crypto assets from Sterlingov, including a mix of Bitcoin ($BTC), Ethereum ($ETH), Monero ($XMR), and Stellar ($XLM).

You’re probably asking yourself this question: WTF is Stellar doing there? No idea - it’s so random. Anyway.

Caught at Los Angeles International Airport in 2021, Sterlingov's downfall was sealed by digital breadcrumbs that linked him directly to the illicit service, showcasing the power of blockchain analysis in piercing through the veil of crypto anonymity. 💼

STOCKTWITS CONTENT
A Can’t-Miss Crypto Event 👀

We will be live with the one and only Tom Lee of Fundstrat & Bitwise CEO Hunter Horsley to discuss all things markets & crypto on Tuesday, March 19th at 3PM EST! 🗓️

Beluga Founder Sonny Singh will be joining as well to moderate this marketing-moving conversation. Save your spot by clicking here.

NEWS
Microstrategy Wants All The Bitcoins

MicroStrategy, under Michael Saylor's command, is doubling down on its Bitcoin obsession, announcing a fresh $500 million debt offering to gorge on more BTC. 💰

They just raised $800 million, bringing the firm's Bitcoin stash to a staggering 205,000 coins. Saylor envisions Bitcoin as a digital fortress of wealth preservation and is betting big on the crypto's future, aiming to corner nearly 1% of Bitcoin's finite supply.

With predictions of Bitcoin hitting the $100,000 mark, MicroStrategy's gamble could see its unrealized profits soar. 🚀💰

TECHNICAL ANALYSIS
Technically Speaking - March 13, 2024

Really quick: If you want more detailed technical analysis and trade ideas, make sure you click here to view Litepaper’s web version and look for Ichimoku Kinko Hyo!

It looks like we’re witnessing the beginnings of what could be a sizeable retracement. 🤬

Given the bearish nature of the daily candlestick (a bearish engulfing candlestick) and the RSI sliding below 70, there’s a good chance we'll see some downside action over the next few days.

The nearest support level is a major trendline below Bitcoin in the $60,000 to $61,000 value area that could be tested soon. 🎯

ICHIMOKU
Ichimoku Kinko Hyo - March 14,2024

This is where you’ll see the ‘old’ school analysis in our prior Litepaper. There will be more here tomorrow!

Cardano

Not a big surprise to see why $ADA is facing some pressure. Such a strong trend up and today’s the day of a Kumo Twist - which means retracements are very, very likely.

But this is crypto, so who the hell knows.

Daily Support Levels: Tenkan-Sen @ $0.739, Kijun-Sen @ $0.688

Weekly Support Levels: Tenkan-Sen @ $0.629, Kijun-Sen @ 0.525

STOCKTWITS CONTENT
New Trends With Friends & Macbook Giveaway 👀

Stocktwits co-founder Howard Lindzon chops it up with pals JC Parets and Phil Pearlman every Thursday on "Trends With Friends."

In this week's episode, the friends discuss:

• Crypto: Meme coins as an established asset class and crypto ETF action hitting records 🤑

• Traditional Markets: Precious metals on the move as money rotates into consumer staples and energy 🛡️

• Social: The changing social media landscape, creator economy, and taking control of personal data 🤳

• Giveaway: Secure your chance to win a Macbook Pro on March 17 by entering here 🚨

Watch it now on YouTube and Spotify, and subscribe to catch each episode when it goes live!

CRYPTO NEWS
Crypto News In Three Sentences - March 14, 2024

🔍 Peter Schiff expresses regret over not investing in Bitcoin during its early days: In a candid moment on Tom Bilyeu’s Impact Theory podcast, Schiff admits missing out on potential immense profits from a speculative investment in Bitcoin, which has seen a price surge to around $73,000 recently. While Schiff remains critical of Bitcoin, he acknowledges the speculative gains he could have realized. From CryptoGlobe

🚗 Elon Musk, CEO of Tesla, reaffirms his support for Dogecoin: Elon Musk announced plans to enable DOGE payments for Tesla vehicles, citing the cryptocurrency's grassroots support as a key factor. Musk's endorsement of Dogecoin as the "people's crypto" and his engagement with Tesla and SpaceX employees have contributed to the decision, aiming to further mainstream Dogecoin and its adoption as a digital payment method. Read more at Finbold

⚖️ UK Judge James Mellor rules that Craig Wright is not Satoshi Nakamoto: Wright's long-standing claim to be the creator of Bitcoin and holding the copyright to the Bitcoin whitepaper took a step back for Not-toshi. The ruling clarifies that Wright is not the author of the Bitcoin White Paper, did not create the Bitcoin system, nor did he write the initial versions of the Bitcoin software, based on evidence presented during the trial. More at Decrypt

🔒 I guess there’s nothing to worry about: Worldcoin undergoes a third-party audit by Trail of Bits, finding no exploitable vulnerabilities in its Orb software. The company aims to verify human identity via iris scans for creating a "World ID." Despite implementing recommendations for security enhancements, privacy concerns persist around the potential misuse of iris-scan data. Read at Cointelegraph

Links That Don’t Suck

🍮 Romanian court approves request to extradite internet personality Tate

✴️ Cyberpunk 2077 player stumbles across main menu easter egg hidden in plain sight

🌌 Why AMD Doesn't Have To Beat Nvidia To Be A Winner In AI Chips

🔭 Render Founder To Speak At NVIDIA’s GTC In 4 Days: RNDR Surge Ahead?

🔰 Cardano Ready For Breakout As Network Adoption Hits Major Milestone

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