Bitcoin Price On the Move - Insider information from today's auction?
Just a couple of minutes ago the Bitcoin price started to move upwards. As you can see from the Bitcoin price chart to the right, the price has taken a leap from around 595 USD per Bitcoin to reaching a high of 618 USD, and then stabilizing at around 613 USD per BTC. That's a move of more than 20 USD in less than a couple of minutes. There has been no information published, as I'm aware of, that can explain this price movement at the current time being. The only real event that will take place today which will, and probably is, affecting the Bitcoin price is the US Marshals' Bitcoin....
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The US Marshals Service (USMS), the federal agency charged with managing the sale of property confiscated by federal law enforcement agencies, has released new data on its auction of 50,000 BTC confiscated from alleged Silk Road head Ross Ulbricht and held today. The USMS data, distributed via email, indicates that the number of bidders in the agency's second bitcoin auction has declined significantly from the first auction held this June. That auction, which received widespread media coverage in the US and had an observable affect on bitcoin's market, attracted a total of 45 registered....
The US Marshals Service (USMS) has announced that 14 bidders participated in today's auction of 50,000 BTC, worth $13.4m at press time, placing 34 bids over the course of the six-hour event. The figure was up slightly from the 11 bidders and 27 bids entered in December's auction, but down from the 45 bidders and 63 bids during the first auction in June. A spokesperson for the USMS indicated that the auction is currently being evaluated and that bids are being reviewed. The spokesperson said: "No further information will be released until the conclusion of the auction process, when....
Gemini exchange, based out of New York’s Flatiron District, is launching what may be a first within the Bitcoin ecosystem - daily Bitcoin auctions. The very first official auction on Gemini will be a BTC/USD pairing and will occur today at 4:00pm Eastern Time. Future auctions will occur every day, including weekends and holidays, at 4:00pm ET. Tyler Winklevoss, Gemini Chief Executive Officer, said to Bloomberg: "We believe this is the first-ever end-of-day Bitcoin exchange auction. Auctions create greater price discovery and liquidity, resulting in a very meaningful final auction....
This past Friday's bitcoin auction held by the United States Marshals Service has seemingly been talk of the town, and now, the service has released some information with regard to Friday's happenings today in a chat with bitcoin news website CoinDesk. A total of 45 bidders registered for the auction (with one of the requirements being the need to wire a $200,000 deposit from a US bank account), with 63 bids submitted during the twelve hours the auction ran, from 6 am to 6 pm East coast time. Unfortunately, the juicy information such as who won and how much their bid was worth is still....
More than 40 hours after the close of the US Marshals Bitcoin auction, the value of 1 BTC against the US dollar has held almost perfectly stable. At the start of Friday’s auction at 6:00 AM EDT, 1 BTC was worth US$590 according to our price tracker. As of 2:00 PM EDT, 1 BTC was worth US$596. Some feared that the auction of more than US$17 million worth of bitcoins would cause a panic sell and possibly send the value of the cryptocurrency tumbling. Instead, a slight uptick was the result. The auction Friday was held by the US Marshals Service, which held about 30,000 bitcoins as a result of....