Potential HEX scam and Bitcoin’s price drop grabbing the headlines

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The crypto space is looking gloomy at the moment

As the year of 2019 is soon coming to an end cryptocurrency supporters might wish for some positive presents ahead. But on the contrary, the market seems to have taken a hit and we are also in the middle of uncovering a potential crypto scam in the middle of the ongoing Bitcoin vs Bitcoin Cash feud.

Bitcoin is currently trading at about $6700 at the time of writing this and it is down nearly by 6% since yesterday (see Bitcoin’s prices here). And Bitcoin has taken most of the cryptocurrencies with it. And it is currently a very blue sight for cryptocurrencies in general. Just look at this picture of the current top 10 cryptocurrencies listed by market cap . As with any price drop some traders and TA analysts are quick to share their visions for further price drops. But it remains to see if the lower $6k and potentially even the $5k mark will get tested?

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So looking forward to the last two weeks of the year now approaching what can we expect from Bitcoin and the rest of the cryptocurrencies? Truth be told I doubt that we can expect anything out of the ordinary of positive news for Bitcoin.

 

Top 10 cryptocurrencies by market cap

 

Is HEX a scam and why is Bitcoin.com listing it?

A lot of attention this week has been centered around a new token known as HEX. And on its website, the promises of high returns and easy to join proclamations are in plain sight. A website that also looks like it was built as a school project and in general full of the typical promises and lures. With a lot of fancy talks that makes as much a compelling case as it makes a confusing one. How about “HEX’S PRICE POSITIVE GAME THEORY (PPGT)”

“Every feature in HEX is designed to increase its price and adoption. It’s a positive feedback loop. HEX rewards most those who acquire HEX scam the earliest, stake more for longer and refer others to do the same”.

Much of this makes it from a first view share a lot of similar traits to other known scams as OneCoin and Bitconnect.

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In other news, the HEX token and a potential new crypto scam have grabbed the attention this week. With the recent news that Stefan Rust the CEO of Bitcoin.com who according to CCN.com decided to list the potential scam on the site out of spite. With the crypto community in heavy discussion about HEX this seems like strange news to read. And to understand the reasons even better this listing seems to be part of an ongoing feud between the different Bitcoin factions. Bitcoin vs Bitcoin Cash.

But is HEX really a scam? Or are we in the crypto community extremely eager to proclaim something as a scam a bit too soon sometimes? On the famous crypto news site, Cointelegraph a long piece was recently published giving us the crypto community a few reasons to perhaps believe otherwise about HEX.

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Without doing enough research we don’t believe it is fair to label something a scam. Even though the website and much of the communication coming out from the HEX scam team sure makes you wonder. Is this really not a scam?

What do you guys think is it a scam or not?

HEX token a scam?

 

If you ever are unsure about something being a potential scam then do your research before you invest money into it. Read what the popular crypto news outlets are saying? And the crypto community on Reddit and Twitter.

Written by

Per Englund – aka gocrypto

Disclaimer : This and other personal blog posts are not reviewed, monitored or endorsed by Cryptoknowmics. The content is solely the view of the author and Cryptoknowmics is not responsible for the authenticity of content of this post in any way. Our curated content which is handpicked by our editorial team may be viewed here.

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