Huge Buy Of Nearly 4000 Bitcoins on Mt. Gox Drives BTC Price Higher

Huge Buy Of Nearly 4000 Bitcoins on Mt. Gox Drives BTC Price Higher

If you've been watching the charts today, you may or may not have noticed a spike this morning that drove the price of Bitcoin past the $255 mark at Mt. Gox. That's because someone has purchased nearly 4000 Bitcoins in a single go at the exchange, which equates to nearly one million dollars (USD unless stated otherwise, for future reference). This may or may not be a pump-and-dump tactic going on here, but the price has so far remained, hovering at $255. Many speculators are at the edge of their seats waiting to see if we'll cross the $266 mark (the all-time high) today. If not, it's....


Related News

Charted: Dogecoin (DOGE) Beats Bitcoin, Why It Could Test $0.5

Dogecoin extended its rally above the $0.4000 resistance against the US Dollar. DOGE tested the $0.4500 zone and it is likely to continue higher in the near term. DOGE gained bullish momentum above the $0.3500 and $0.4000 resistance levels against the US dollar. The price is trading nicely above the $0.3000 support and the 100 […]

University Students Risk Ransomware Infection Through USB Drives

A recent security experiment conducted at the University of Illinois Urbana-Champaign goes to show how insecure freely distributed USB drives can be. Almost one in two drives were taken and plugged into a computer right away, regardless of possible consequences. Please Refrain From Using Unknown USB Drives. There is something very appealing about goodies, especially if they come in the form of an item everybody can use. USB Drives present an excellent example of how dangerous these goodies can be, though, as users will plug them into their computer without giving it a second thought. That....

Charted: Ripple (XRP) Tumbles 25%, Why 100-day SMA Holds The Key

Ripple started a major decline below the $0.4200 and $0.4000 support levels against the US Dollar. XRP price is gaining momentum, but approaching the key 100-day simple moving average and $0.3200. Ripple started a strong decline from well above $0.5000 against the US dollar after SEC’s threat. The price is now trading well below $0.4000, […]

The Merchant Adoptocalypse

Most merchants who adopt Bitcoin do not keep the bitcoins they earn but instead sell them for dollars on exchanges immediately using payment processing services such as BitPay. Consequently, the merchant creates selling pressure at the exchange, which drives the price down. So far this effect has been relatively mild, but there is a real possibility that the “merchant adoption” effect could spiral out of control if the selling pressure from new merchants is so great as to induce other people to dump their bitcoins. Once this happens, the price of Bitcoin could drop to zero in minutes. This....

Charted: Ripple (XRP) Surges 15%, Why Bulls In Control Above $0.44

Ripple started a fresh increase above the $0.4000 resistance against the US Dollar. XRP price is likely to accelerate further higher if it clears the $0.4650 resistance. Ripple is up over 15% and it broke a major resistance near $0.4200 against the US dollar. The price is trading well above $0.4400 and the 100-day simple […]