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- Bitcoin prices up 1.4% from last week's close
- Mt Gox Founder Served for 2.5-Year Conditional Sentence
- Participation increases, BTC could print higher in the coming days.
Mark is a free man and, despite the heavy losses of ordinary investors, a Japanese court remained indulgent. Be that as it may, it seems that Bitcoin prices are on the road to recovery and that's what investors want to see.
Bitcoin price analysis
fundamentals
After four years of investigation, it was time for Mark Karpeles to face the law. Appearing in Japanese court, Mark has been accused of less serious data manipulation and not misappropriating millions of dollars through his exchange, Mt Gox.
According to Mark's lawyers, it was not his actions that contributed to the final collapse. They argue that Mark did everything in his power to prevent the withdrawal of the exchange and sometimes used his funds to support the exchange. Moreover, even after the hacking, the French remained in Japan.
To this end, he will receive a two-and-a-half year suspended sentence. However, if he breaks the rules within this time frame, he will be liable to a four year prison sentence. The hacking at Mt Gox was an expensive offense that not only resulted in a $ 350 million loss when 850,000 BTCs were pulled out of circulation, but also left a trail of investors angry.
At the time of hacking, Mt Gox was the largest in the world, controlling up to 80 percent of the world's cryptographic transactions.
Chandelier arrangement
Currently, Bitcoin (BTC) is stable and up 1.4% compared to the close of last week. Due to this expansion and decreasing demand for time, the bulls seem to be coming back. The result is a candlestick confirming the March 5th request.
As reiterated in the previous BTC / USD trade plans, the fact that the bears did not drive down prices and reverse the March 5 gains was an increase in effort relative to to the results.
From a price point of view, each low should be a buying opportunity. After that, conservative traders should initiate positions as soon as prices approach $ 4,500, our first immediate targets.
Technical indicators
As we have already said, our anchor bar is February 24 with a 36k lead. Although the bulls have not yet canceled out these losses, the current bar could stimulate activity, attract demand, which could lead to higher prices with volumes greater than 7.45k and even 37k on February 18th. .
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