A bunch of News from Canada

Lebedev

Lebedev

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Jun 26, 2018
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Although Canada isn't considered to be a country interested in the technological development, a lot of things connected to crypto were established in Canada. One of these is QuadrigaCX, bitcoin based coin exchange which creator has suddenly died keeping almost $ 150 million in his private storage no one has access to.

This is a pretty old story but it still continues to develop, for example, there were insides of that exchange creator faked his death because of big debts he had. Other versions were saying that he has died, but according to the will he had written 12 days before access to money was given to his wife. Some facts were also there, on the last week it became clear that exchange wallets are absolutely empty and there were no transactions since April 2018.

A bunch of News from Canada

It’s an unclear situation with lots of pitfalls, so Canadian court extended the investigation on 45 days. The court made such decision taking in count progress done in month since the investigation beginning.

Auditing company Ernst&Young (EY) claims that it is a fairly bad idea to stop the search of the money, because this process is in the highest stage.

What is more, court has announced a new bitcoin exchange head, that will take place of founder's wife, who was given all the rights for exchange according to the will. Work of the new company director consists in doing whatever it might take to help get money back.

EY also get access to the exchange founder Amazon account, which couldn't be obtained without the court decision because this account is private.

While Canadian government in association with private companies are trying hard in order to get people's money back, Canadians analytics claim that it isn't the best time for Bitcoin right now. However, the situation might change pretty soon.

Experts of a famous Canadian financial company Canaccord Genuity are sure in that Bitcoin is at the very bottom of its price at the moment, but by the end of 2021 it will be as high as it was in 2017 (even more than 20,000).

According to experts, the main cryptocurrency has faced the very bottom and will remain low in price for the whole 2019 with no hope for getting back. But the true comeback of Bitcoin will take place after a year, in 2021 when it will cost $20,000.

Their analysis is based on the trends of price movements from year 2011 to 2017.
 
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