Max Keiser, the founder of Heisenberg Capital, predicted bitcoin to rase above $15 000 resistance an incoming week. We ask the comments of Anna Voychik, a senior analyst trader at TiB fund commented on Keyser’s forecast about bitcoin.
It seems that another wave of bitcoin exchange rate growth has begun. This year will be remembered for a long time by all crypto-asset holders as the time of real roller coaster on the charts. With a minimum of $5,500 in early May, the price of the main cryptocurrency reached $ 13,000 at the end of June. The BTC dominance index has also changed markedly: from 50% to 65%.
Of course, in this situation, there are a lot of diverse forecasts about the near and not so near future of digital gold. One of the most interesting and ambitious was made by Max Keyser, founder of Heisenberg Capital. In his opinion, already in the coming week, the Bitcoin exchange rate will overcome the $ 15,000 mark. The forecast is indeed more than optimistic, but before rushing to invest in cryptocurrency, it is better to listen to the opinions of experts.
TiB fund is an international cryptocurrency project engaged in the analysis, monitoring, and investment in digital assets. Anna Voychik, a senior analyst trader at the company, commented on Keyser’s forecast.
– It is well known that Keyser has been buying bitcoins ever since the exchange rate was one dollar per unit, so he has a certain understanding of the market. The timing of such growth, of course, looks somewhat optimistic.
– What is the reason for the growth rate this time?
– The team of TiB analysts is quite closely involved in this issue, and we believe that one of the significant factors may be the prospects of the global economic downturn.
The trade war between the United States and China is escalating, Britain is moving towards Brexit, which could plunge the European economy into a state close to chaos. In addition, there is a rapid decline in some national economies. For example, in Venezuela and Zimbabwe, there is a huge level of inflation.
– How does this directly affect bitcoin?
– The uniqueness of bitcoin is that it is not controlled centrally and, due to this, according to many experts, is the best alternative to paper currencies.
Compared with the latter, cryptocurrency has the potential to be protected from federal monetary policy. And this trend over time has quite good development prospects.
– But what about volatility?
– Even with noticeable fluctuations in the exchange rate, now bitcoin is more stable than some local currencies. Growing economic problems may well lead to investors starting to see decentralized assets, such as bitcoin, as a means of long-term investment.
In addition, multidirectional dynamics provides ample opportunities for earnings for crypto traders. Customer reviews of TiB fund suggest that Bitcoin is currently the most popular digital asset
Last week, Craig Wright, the man who claims he’s Satoshi Nakamoto, appeared in court and testified why he did not have access to his public bitcoin addresses and trust information. Since then a lot of new evidence has been submitted to the court and members of the crypto community have dissected Wright’s recent testimony and the newly filed documentation.
The $5 Billion Dollar Bitcoin Lawsuit Continues to Unfold
For years now, Australian native Craig Wright has told the public that he invented Bitcoin and tried to submit evidence to prove that he is who he says he is. However, a great number of cryptography experts and well known bitcoiners have discredited nearly all of his claims to the point where individuals have called him a fraud. The Kleiman v. Wright case involves the now deceased Florida computer forensics expert Dave Kleiman.
The reason David is involved is because much of the evidence provided to the court involves Kleiman and Wright’s multi-year business relationship. After David passed away, allegedly Wright reached out to the family and explained to them that he and David were involved with the creation of Bitcoin and how they both mined large amounts of bitcoin during the early years. Now, Ira Kleiman, on behalf of David’s estate, is accusing Wright of interfering with David’s bitcoin assets and intellectual property after he died. The Kleiman estate’s complaint reads:
This matter concerns the rightful ownership of hundreds of thousands of bitcoins and the valuable intellectual property rights of various blockchain technologies. As of the date of filing, the value of these assets far exceed $5,118,266,427.50 USD (before punitive or treble damages).
The court case started in February 2018 and involves billions of dollars worth of BTC that allegedly exist in a blind trust called the “Tulip Trust.” Kleiman’s litigation team have asked Wright to produce bitcoin addresses and trust information, but so far the plaintiff’s counsel say he has failed to comply. The hearing on June 28 was held to understand why Wright and his attorneys believe he should not be held in contempt for failing to produce what the court has ordered him to procure.
When Wright was asked why he hasn’t provided a list of the public addresses to the plaintiffs, he explained that “there are no public addresses in the Bitcoin system.” Wright insisted to the court that public addresses “don’t exist” and claimed there are no public addresses at all in Bitcoin. “Bitcoin was derived such that a key would only be used once — And if you look at the section in the whitepaper, later on, it states that as an additional firewall, keys should not be reused,” Wright responded.
Accusations Aimed at the Creator of Bitcoin.org
When Wright was asked if he was familiar with the Bitcoin system, he said that he was familiar with the system he created and he claims to have “used the pseudonym Satoshi Nakamoto” during this time. Again, Wright was then asked whether he could provide the public addresses at the hearing. “If I could, I would have not given the first 70 addresses — I would have given every other address,” Wright responded further. “The first 70 addresses associate me as Satoshi — I did not want to be associated with Satoshi.” Wright was then asked to explain why he stopped acting as the pseudonymous Satoshi Nakamoto and he claimed that it all started after the creation of Bitcoin.org. Wright then went on to accuse Martti Malmi and Theymos of starting the “Silk Road, Hydra and a number of other darker websites” along with Ross Ulbricht. Wright’s testimony stated that these websites and forums were created to foster drug sales, weapons, child pornography, and assassination markets.
Apparently CSW has claimed in court that I cofounded Silk Road and worked “to allow assassination markets”. For the record: that is obviously a made up accusation. https://t.co/lAdFhsLoHH
After reading the transcript, early Bitcoin developer Martti Malmi went on record and said Wright’s claims were “obviously made up accusations.” During the tweet thread, at first Malmi said he was leaning toward not responding back with a libel and defamation lawsuit. It seems Malmi hasn’t made up his mind, however, and from further comments, he may retaliate against these accusations.
“Then again, would be good to see justice served and him not getting away with outright slander,” Malmi explained. The former Bitcoin developer stated:
Taking a closer look to the transcript, Craig Wright is accusing me and Theymos of soliciting drug trade, assassinations, terrorism and child porn — That is too much to be ignored. I want to thank everyone for the support I’ve received and I’ve already got some suggestions about where to start, but recommendations for good lawyers, etc. are welcome.
Wizsec Dissects Wright’s Testimony and Alleged Forgeries
After Wright’s transcript was published, Bitcoin security specialists Wizsec analyzed his testimony and found many flaws. Wizsec discussed how Kleiman’s lawyer had focused on an email produced by Wright in discovery that allegedly is a forgery. The email is a PDF that was purportedly sent by David Kleiman on June 24, 2011. Kleiman’s lawyer presented the PDF and explained that even though it says it was created in July 2011, the software used to write the metadata in the document stems from software that had not launched until the summer of 2012.
Moreover, Wizsec’s analysis says that the PDF document at the very least must have been modified somehow at some point. “Indeed the PDF metadata lists a modification date of October 22, 2014, which Wright himself identifies — Wright denies modifying the PDF at that time,” Wizsec writes. Kleiman’s lawyer noted that the PDF contained a string of code that further suggested the document was modified at some point. Then Wright claimed the Kleiman counsel submitted a forgery and tossed the document in the air and the judge gave him a warning.
“All the evidence presented by the plaintiff raise significant doubts as to the authenticity of this supposed email from Dave Kleiman,” Wizsec’s research notes. “No legitimate document should show this many signs of manipulation, and even if Wright denies that he forged anything, all of this is hurting the credibility of any other documents Wright’s side has submitted, if not Wright’s own credibility.”
Following the email discussion, Kleiman’s lawyer then discussed a PDF called the deed of trust. According to the transcript, the plaintiff’s forensics expert extracted metadata from the PDF which shows it was embedded with the Calibri font created in 2015. But Wright and even some of his dedicated followers believe that the Calibri font got an update and any PDF would pick up the new font after the fact.
Indeed, many of Wright’s fans have dismissed all of the claims against him and even Wright himself is attempting to sue certain people for calling him a fraud. One Wright supporter on Twitter has been tracking all of the negative comments against Wright on the social media platform. “If you’re spreading lies on Twitter, you better hope your opsec is the best and you have lawyers on retainer,” the user warned. Meanwhile, there are many bitcoiners assessing the court drama and have rebuked all of Wright’s documents and claims of being Satoshi. Adding more insult to injury, this week an unidentified person bought the domain name Loser.com allegedly for $21,000 and the website now directs to Craig Steven Wright’s Wikipedia page.
During the hearing, Kleiman’s attorney continued to ask Wright about a slew of documents that were seemingly modified at a later date, an email that Wright allegedly sent to himself, and a bunch of other document discrepancies. In addition to Wizsec’s examination, Daniel Kelman, an attorney who often discusses cryptocurrency cases, also wrote an extremely detailed post about Wright’s latest testimony. Kelman said that Wright fully understands how to produce public addresses and the court order was very clear. However, in his opinion Wright failed to produce the addresses and comply with the order and did so “willfully,” Kelman emphasized. The attorney at law said there will be a second hearing later this summer and he expects the other witnesses to be heard and more discussions in regard to certain technical exhibits.
“After this hearing, the court will issue its verdict — As discussed previously, this could result in fines or a six-month incarceration for Wright,” Kelman wrote. “The court can issue a default judgment to Kleiman or can issue the lesser remedy of preventing Wright from contesting these matters, which would all but hand the case to Kleiman.” The lawyer continued:
Based on Wright’s performance at the June 28 hearing and the court has already established grounds for contempt against him, I don’t see this going in Wright’s favor.
The Kleiman v Wright case could end soon, but the court still needs to hear from Wright’s expert witnesses including Brett Roberson, Kevin Madura, and Nchain developer Steve Shadders. The date for this proceeding has not been chosen yet, but reportedly both parties must appear in court before Judge Beth Bloom on July 10. So far there’s been a lot of evidence against Wright’s claims and documents submitted to the court as well as the crypto community’s continued grievances against him.
Wizsec and others have discredited Wright’s technical explanations many times in the past and continue to believe he has lied many times and obfuscated his story by using “technobabble.” “Word salad is not meant to help a less technical audience understand, but to keep it from understanding or questioning,” Wizsec’s analysis detailed. The paper concludes:
This is a basic scammer’s trick; the “con” in con artist stands for confidence, after all — Keeping an open mind is nice and all, but that requires active critical thinking and that you do your own research properly so you don’t get taken advantage of. If someone has been caught lying 999 times, you’re not obligated to keep an open mind for number one thousand.
What do you think about the Kleiman v. Wright lawsuit involving billions of dollars worth of bitcoin? Let us know what you think about this subject in the comments section below.
Feel like you missed something? Check out our full coverage of the Kleiman v. Wright case here:
Two brothers in Israel are in custody for their involvement in 2016 BitFinex hack resulting in the loss of 120,000 BTCs. Relieving, it’s a boost for BitFinex currently buying back LEO tokens. At the time of writing, the coin is stable but bullish.
LEO Price Analysis
Cryptocurrency exchange hacks are a definite step back. Not only do they instill fear among account holders and destabilize exchanges, but the more they happen, the more likely regulators are likely to step in and impose restrictive rules.
Although-for the well-being of the investor, laws introduce hurdles that may wade off investment in this liquidity conduit. Like many other exchanges, BitFinex has been pretty secure in the last three years.
Back in 2016, malicious elements made away with 120,000 BTCs, roughly $72 million at that time. Luckily, thanks to the collaborative effort of authorities, two brothers in Israel are now in police custody.
Eli and Assaf Gigi are the main perpetrators. By successfully sharing and luring victims with dubious versions of popular exchanges and wallet providers, they wiped clean their victim’s accounts. Unsettling, Eli Gigi has specialist web penetration training from the Israel Defence Forces (IDF).
However, cybersecurity experts maintain that his military training has little to do with this hack. In an email, Hartej Sawhney, co-founder of Zokyo Labs says:
“You don’t need ‘military training’ to conduct cybercrime on today’s centralized exchanges. Most recently, we have seen hackers gain access to databases holding users’ access tokens and steal their funds.”
LEO Daily Price Movement Chart
Presently, there is a buyback program in progress. BitFinex’s decision is overly bullish for LEO. From previous LEO/USD trade plans, it was clear that buyers are in control not only because of favorable fundamentals but events of the last few weeks.
Already, there is a clear double bar bull reversal pattern reacting from the first support level at $1.75. Unique in that yesterday’s snap back to the primary trend is with high participation; traders have a window to consider and even buy the dips in smaller time frames.
To safely trade, a fitting safety net should be at July 3rd low of $1.65. Notice that there is a level of undervaluation following the close of the bearish bar. By closing below the lower Bollinger Band, LEO bulls had an opportunity with yesterday a reflection of demand.
Ideally, there should be confirmation of yesterday’s upswing. That means trading volumes should pick up preferably printing above 2 million of June 2. In such a case, prices could surge above $2 or June 2019 highs triggering further participation as buyers aiming at $2.5 of May 20.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
Over the past year or so, TRON (TRX) has grown into one of the most promising cryptocurrencies in the world, and experts believe that it has not yet reached its full potential. In addition to that, the fact that TRON separated from Ethereum completely has also been regarded as a monumental step in the development of the project.
For those who have watched the growth of TRON closely, the decoupling from Ethereum was regarded as the cryptocurrency’s ‘Independence Day,’ and there was optimism that it was going to go on a sustained bull run.