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- Bitcoin prices are on the rise and close to the upper BB
- Craig Wright sued for allegedly defrauding Dave Kleiman
- The volume of transactions is low, averages must be higher than 40 000 for BTC to join
Dave Kleiman's family sued Craig Wright for $ 5 billion, claiming he had illegally falsified, backdated, and signed some of Dave's share of about 1.1 million BTCs that they had mined. Whether a closure or not, these BTC are liquidated, Bitcoin prices are recovering although the volumes of trade are low.
Bitcoin price badysis
fundamentals
Craig Wright is a controversial figure. He claims to be the mysterious Satoshi Nakamoto, the man who exploited the first 50 Bitcoins and performed the first Bitcoin transfer sending 10 BTCs to Hal Finney. Created as an alternative to banks accused of creating a crisis, Bitcoin has experienced a meteoric rise since its launch in 2019.
Ten years later, Craig Wright resumed his proceedings in a US District Court. The complainant, Dave Kleiman's family, claims that Craig has signed more than 500,000 BTCs from his former trading partner. The Dave family believes that Craig falsified documents and backdated them to give the impression that Dave gave up some of his share, estimated at about 550,000 and 1.1 million BTCs to Craig. Thanks to these accusations, Jeff Garzik was summoned to appear. Nevertheless, Craig and Dave were the first to adopt and, despite the controversy surrounding their claims, their contributions to the sphere are valid.
Chandelier arrangement
Bitcoin is on an upward trend. At the time of writing this article, the coin is stable and up 1.3% from the close of last week. Despite our optimism, these reliable statistics suggest price consolidation. As in our previous badysis of the BTC / USD price, Bitcoin prices seem to cluster with the higher BB, which means aggressive and risk-free traders have a chance to win in shorter time frames.
As long as prices exchange above $ 3,800 in a minor exchange, bulls could create enough momentum to reverse February 24 losses. Once that happens, there will be little upside resistance and BTC could also retest $ 5,800 and $ 6,000 in the next couple. weeks.
Technical indicators
Recent highs were supported by low volumes. At yesterday's close, BitFinex data indicate that average volumes were 7.78 thousand versus 13 thousand. It is low compared to February 23, when the average was 16 km. Whatever the case may be, aggressive and short-term traders should weigh down anytime on the downside, while conservative traders are expecting a close close to the December 2018 highs and volumes above 36k.
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