Bitcoin Price Rebounds after hitting 550 USD: US Marshals Hold Bitcoin Auction
As I predicted the Bitcoin price hit 550 USD early this morning (EST). Even though the price trend looked to be bearish, the price drop of more than 60 USD per BTC that we experienced today was probably mainly caused by US Marshal. In an announcement made for 11 hours ago, US Marshal explains that they will auction of the seized silk road bitcoins in an auction that will end on Monday 30th of June. This caused the Bitcoin price to take a plunge. US Marshal will auction off 29,656.51306529 bitcoins and they are accepting offers based on these terms: A manually signed pdf copy of the Bidder....
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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....
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....
The much awaited bitcoin auction by the United States Marshals Service is finally over. The US Marshals Service, in possession of confiscated bitcoins from the Silk Road investigation auctioned the last of them earlier on Thursday. Thursday's auction had about 44,341 bitcoins worth $17.21 million out for bidding by those who had earlier registered with the US Marshals Service. According to reports, the online auction saw 11 bidders bidding 30 times over a span of six hours. Completion of the latest auction signifies liquidation of all the bitcoins seized from the wallets belonging to Silk....
According to several reports, the U.S. government has announced another Bitcoin auction on August 22, selling 2,719 BTC — worth $1.6 million USD at press time — confiscated by authorities. This will be the latest auction of cryptocurrency since the last U.S. Marshals (USMS) sale last year. Multiple Forfeiture Cases Allows USMS to Hold Another Bitcoin....
Argh, some unfortunate news... Bitcoin has dropped by about $10 since the most recent price article. We previously introduced the question of whether or not the price increase would continue in short bursts as we have been witnessing. The third US Marshals Bitcoin Auction was announced for next month, which seemed to have sparked some interest, but maybe that interest was short-lived, and maybe the auction won't do as much as we were originally hoping. After all, traffic and participation in the second auction was considerably smaller than what we saw in the first. Maybe as each auction....