Coincidence? Bitcoin (BTC) Prices Up After Mark’s Judgment
Bitcoin prices up 1.4 percent from last week’s close
Bitcoin Pullback Begins, Will BTC Drop to $6,000 This Time?
Thursday May 23, 2019
The long awaited crypto correction appears to have initialized today. After hitting resistance twice and failing to break it, Bitcoin has plunged back below $8k now as markets tumble. Analysts have been scanning the...
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Mt Gox founder serving 2.5 years suspended sentence
Participation picks up, BTC could print higher in days ahead.
Bitcoin (BTC) Price Uptrend Pauses But Not Out of Woods Yet
Thursday May 23, 2019
Bitcoin price is currently under pressure below the $7,800 support area against the US Dollar. The price declined recently and it is currently trading just above the $7,500 support area. There is a major...
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Mark is a free man, and despite heavy losses ordinary investors had to shoulder, a Japanese court remained lenient. All the same, it appears as if Bitcoin prices are on a recovery path and it is what investors want to see.
Bitcoin Price Analysis
After four years of investigation, it was time for Mark Karpeles to face the law. Appearing before a Japanese court, Mark met a lesser charge of data manipulation and not that of embezzling millions of dollars through his exchange, Mt Gox.
According to Mark lawyers, it was not the action of his acts that contributed to the final collapse. They argue that Mark did everything he could to prevent the exchange from folding up and sometimes using his funds to prop the exchange. Besides, even after the hack, the Frenchman stayed in Japan.
To that end, he will receive a two and a half year suspended sentence. However, should he flout any rules within this time, he will be liable for a four year jail time. Mt Gox hacking was a costly breach that not only led to a $350 million loss when a reported 850,000 BTCs were sucked out of circulation but also left a trail of angry investors.
At the time of the hack, Mt Gox was the largest in the world commanding up-to 80 percent of the world’s crypto trading.
Banks Love Ripple (XRP), Will Demand Drive Prices to 80 Cents
Monday May 20, 2019
Ripple (XRP) up 27.3 percent Brad Garlinghouse says Ripple ready to work with banks and regulators In an interview with Recode Decode podcast, Brad Garlinghouse once again reiterated their will of working with regulators...
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Currently, Bitcoin (BTC) is stable and up 1.4 percent from last week’s close. Because of this expansion and lower time frame demand, bulls appear to be flowing back. The result is therefore a candlestick confirming Mar 5 demand.
As reiterated in previous BTC/USD trade plans, the failure of bears to drive prices lower, reversing gains of Mar 5 was bullish from an effort versus result point of view.
From price action, every low should be a buying opportunity, and after that, conservative traders should initiate positions once prices close above $4,500, our immediate first targets.
Like we have said before, our anchor bar is Feb 24 bears with 36k. Although bulls are yet to reverse these losses, today’s bar could spur activity, draw demand the result could be higher prices with high volumes above 7.45k and even 37k of Feb 18.
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