Bitcoin Price Sinks, But Community Remains Optimistic
If you've taken a peak at the bitcoin price charts lately, you might have noticed that the price of bitcoin is down. Some would say alarmingly so, but for those of us that have been in the game since the beginning, it's nothing we're not accustomed to by now. A quick peak at the charts (drawing data from the Bitstamp exchange) quotes us $436 at the last trade (as of this writing). Over the past seven days, we've seen the price slowly sink down to this level from the $480 range - down over 7 percent. Which of course leads many to ask: what in the world is going on? If there were an easy....
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The price of bitcoin at Mt. Gox hit a low of $220 (nearly a 60 percent drop in the last week) this weekend as a seemingly never-ending drama surrounding the exchange continues to unfold. By comparison, the price per bitcoin at the time of this writing at Bitstamp is going for $624 - highlighting the extreme lack of community confidence in the world's oldest bitcoin trading platform. All eyes are still very much on the Tokyo-based exchange, expected to come forth with yet another update on the status of withdrawals on Monday morning. A scan of the Bitcoin page on social sharing website....
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The price of bitcoin on Mt. Gox registered a daily low this morning at 03:00 GMT of $302, but has since rebounded to $383. After a few days of shaky stability, the price of bitcoin continued to fall on 13th February across major exchanges as fear, uncertainty and doubt spread throughout the bitcoin community. The most direct contributor to the day's decline was the revelation that more than 4,500 BTC were reported stolen from online black market Silk Road 2.0, which failed to adequately respond to transaction malleability issues that were earlier reported by Mt. Gox, Bitstamp and other....
Bitcoin price continues pushing higher in cautious but optimistic trade. Leading into major economic events, it is often prudent to stay out of the market. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 14h30 UTC. BTCC 4-Hour Chart. From the analysis pages of xbt.social, earlier today: The 4hr chart, although slow and applicable over days and weeks, is looking bullish. The 20- and 200-period moving averages are ascending, and price is....