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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Coincidence? Bitcoin (BTC) Prices Up After Mark’s Judgment

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis bitcoin

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  • Bitcoin prices up 1.4 percent from last week’s close
  • 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

Fundamentals

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.

Candlestick Arrangement

Bitcoin

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.

Technical Indicators

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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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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