BSV/USD explodes after Tulip Trust update

Rajan Dhall, MSTA FX Daily

BSV/USD pushed over 33% higher today after a new development in the "Tulip Trust III" case.

Founder Craig Wright, the self-proclaimed Bitcoin creator sent out a total of 428 documents to the plaintiffs, one of them allegedly including details of a secret trust that holds billions of dollars worth of bitcoin.

Mr Wright’s legal representatives called the paper “Tulip Trust III” and made it confidential. The decision raised suspicions that their client – indeed – was involved in the mining of the first batch of bitcoin alongside his now-deceased partner Dave Kleiman. Bitcoin SV supporters, who expect Mr. Wright to dump part of that bitcoin for BSV, got euphoric on the news.

As you can see the price went ballistic on the news. The 150.00 area which was a prominent resistance was broken and 160.00 halted any further moves. Interestingly it looked like a base was forming at around 80 on the chart as it had been used as support on 4 major occasions. Now the bulls could be looking to for the next psychological level of 200.00 as a target.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

Ripple stabilizes as support holds amid steady ETF inflows

Ripple pares losses and trades around $1.05 at the time of writing on Monday. The cross-border remittance token is attempting a recovery after last week’s sell-off, which intensified as the US and Iran exchanged fire.

Crypto Today: Bitcoin and Ethereum edge higher, XRP pares losses as US and Iran agree to resume talks

Bitcoin is showing renewed signs of recovery, approaching the $60,000 mark at the time of writing on Monday. Among altcoins, Ethereum is positioned for a potential breakout above $1,600, while Ripple continues to face bearish pressure, holding just above the key $1.00 psychological support.

Bitcoin four-year cycle: BTC risks 75% drawdown with four months of bear market still ahead

Bitcoin price continues to trend downward below the $60,000 support zone after losing over 50% of its value since the $126,199 high in October. Bitcoin’s four-year cycle, measured from cycle tops to bottoms, suggests that four months of a bear market are still ahead.

Bitcoin Price Forecast: Mild recovery as US and Iran agree to halt attacks, resume talks

Bitcoin recovers slightly on Monday, trading above $60,000 after closing below the 200-week SMA the previous week. Market sentiment turned cautiously positive after the US and Iran agreed to halt attacks and renew peace talks.

Bitcoin: BTC hits 20-month low, will the pain continue?

Bitcoin has remained under pressure this past week, losing over 5% as traders assess mixed signals from different parties involved in the Middle East conflict.