Coincidence? Bitcoin (BTC) Prices Up After Marks Judgment

Bitcoin prices up 1.4 percent in last week
Mt Gox founder serving 2.5 years suspended sentence
Participation picks up, BTC could print higher in days ahead.

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 worlds crypto trading.

Candlestick Arrangement

Currently, Bitcoin (BTC) is stable and up 1.4 percent from last weeks 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.

Technical Indicators

Like we have said before, our anchor bar is Feb 24 bears with 36k. Although bulls are yet to reverse these losses, todays bar could spur activity, draw demand the result could be higher prices with high volumes above 7.45k and even 37k of Feb 18.

The post Coincidence? Bitcoin (BTC) Prices Up After Marks Judgment appeared first on NewsBTC.

15.03.2019 / 10:30 25
Bitcoin Industry Reacts As Mark Karpeles Avoids Jail Over Mt. Gox Debacle Bitcoin Industry Reacts As Mark
Mark Karpeles, the former head of defunct cryptocurrency exchange Mt. Gox, will unlikely serve time in jail following a significant acquittal by a
Mt Gox CEO Mark Karpeles Found Not Guilty of Embezzlement Mt Gox CEO Mark Karpeles Found Not
Mark Karpeles, CEO of the now-defunct bitcoin exchange Mt. Gox, has been sentenced by the Tokyo District Court. The court convicted him of record
Former Mt. Gox CEO Says He Is Sorry But Maintains His Innocence as Trial Closes Former Mt. Gox CEO Says He Is Sorry But
Mark Karpeles, the former chief executive officer of the now-defunct Mt. Gox, has reportedly apologized for the losses that led to the demise of the
Disgraced Bitcoin Exchange CEO Mark Karpeles Maintains Innocence in Mt. Gox Embezzlement Trial Disgraced Bitcoin Exchange CEO Mark
TweetShare The former CEO of defunct bitcoin exchange Mt Gox has maintained his innocence during the closing arguments of his trial, Japanese public
Former Mt. Gox CEO Could Face 10 Years in Jail Over Embezzlement Former Mt. Gox CEO Could Face 10 Years
Japanese prosecutors are seeking a 10-year jail term for Mark Karpeles, the former CEO of Mt. Gox. The embattled Frenchman, who has been previously
Mt. Gox CEO Mark Karpeles tells Creditors: Im on Your Side Mt. Gox CEO Mark Karpeles tells
Former Mt. Gox CEO Mark Karpeles has a simple message for creditors of the disgraced, now-defunct Bitcoin exchange: Im on your side. Karpeles, who
Comments (0)
Add a comment
Comment on