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.

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