Bitcoin (BTC) Price Analysis — February 20

  • The BTC price faces resistance at the $4,200 price level.
  • The crypto's price is likely to rise if more buyers come in at the $4,000 price level.

Bitcoin, BTCUSDBitcoin Chart by Trading View

BTCUSD Medium-term Trend: Bullish

  • Resistance levels: $7,000, $7,200, $7,400
  • Support levels: $3,700, $3,500, $3,300

The price of Bitcoin is still in the bullish trend zone after the February 8 price rally. There is a fresh upward price movement after the range bound movement. The crypto's price is making a series of higher highs and higher lows as the price rises from the $3,700 to the $4,000 price levels. The BTC price is likely to face resistance at the $4,200 price level.

If the bulls face resistance at that price level, the crypto will be forced to a range bound movement. On the upside, if the bulls have a price breakout, the crypto will revisit the highs of $4,500 and $5,000 price levels. Meanwhile, the stochastic band is at the overbought region and above the 80% range which indicates that the crypto is in a strong bullish momentum and a buy signal.

BTC/USD Short-term Trend: Bullish

Bitcoin, BTCUSDBitcoin Chart by Trading View

On the 4-hour chart, the price of Bitcoin is in a bullish trend zone. The BTC price is in a smooth uptrend. The crypto's price is trading at $4,034 and approaching the resistance level. Nevertheless, since on November 24, the bulls have not been able to break above the $4,200 resistance level.

The crypto's price is likely to rise if more buyers come in at the $4,000 price level. A price breakout will make the price of Bitcoin to appreciate in value and attract more buyers. Meanwhile, the stochastic band is at the overbought region and above the 80% range which indicates that the crypto is in a strong bullish momentum and a buy signal.

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

BSV Surges 80% As Craig Wright Files Copyright Registration for Bitcoin Whitepaper

Craig Steven Wright (“CSW”), the Australian computer scientist and self-proclaimed inventor of the Bitcoin protocol, has claimed that the US Copyright Office recently awarded him a copyright registration for being the original author of the Bitcoin whitepaper.

According to CSW, he has also been granted a copyright registration for writing “most of the original code” used to implement the Bitcoin blockchain network.

Commenting on the matter, DecryptMedia revealed that a spokesperson had sent a press release to the news media outlet, stating:

 

This is the first government agency recognition of Craig Wright as Satoshi Nakamoto, the creator of Bitcoin.

 

Meanwhile, CoinGeek reported that the registrations (allegedly) “issued by the US Copyright Office recognize Wright as the author” of both the initial Bitcoin codebase and the cryptocurrency’s whitepaper, which was published after the code was released.

Wright Has Only Submitted A Claim, Has Not Received Any “Recognition”

As pointed out by DecryptMedia, Wright’s claim that he has been granted “government agency recognition” would appear questionable. It seems that Wright has only registered a claim with the Copyright Office, which any individual or organization can submit.

At this point, the only thing that can be confirmed is that Wright paid a $35 fee in order to file an application which requests that he should be granted US copyright registrations for the authorship of the Bitcoin whitepaper.

Registering A Copyright Only Requires “Filling Out A Form”

As explained by Jerry Brito, Director at Coin Center, registering a copyright only requires filling out a simple form. Moreover, the US Copyright Office does not conduct an investigation, in order to determine the validity of the claim, Brito noted. The Office is only responsible for “registering” all claims submitted.

The Coin Center Director also clarified that copyright registration does not, in any way, mean or imply “recognition of authorship.” In statements shared with DecryptMedia, Brito further explained:

 

[CSW’s copyrights claim and application are] simply recognition by the Copyright Office that someone is claiming authorship. Registering a copyright is a simple as filling out a form with your claim... It would be up to a court to decide if a copyright registration is based on fraud or not.

 

Bitcoin SV Surges Nearly 80%

Soon after CoinGeek reported that CSW had received copyright registrations for being the author of the Bitcoin whitepaper, the price of Bitcoin “Satoshi Vision” (BSV) surged by nearly 80% according to CryptoCompare data.

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