Another Bitcoin Price Drop: Has Hype Surrounding the US Marshals Auction Died Down Already?
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....
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So after a little bit of fear yesterday, bitcoin price is now up about $2 and is hovering at the $237 mark. Previously we mentioned that bitcoin price would likely increase sporadically bit by bit, but that a regular period of dropping was likely here and there. Yesterday, we received a challenge to those words when bitcoin price dropped about $10 overnight, a bit more than we might have expected. Upon seeing that, the original notion was questioned and we began to think if maybe hype surrounding the US Marshals auction set for March 5th was beginning to die down earlier than expected. But....
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 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....
The bitcoin community eagerly awaits the results of a government bitcoin auction that took place on Friday. Circle Internet Financial, a Boston-based company headed by Jeremy Allaire, is one of a number of different entities that participated in said bitcoin auction, held by the United States Marshals Service. Speaking to the Wall Street Journal on Monday, Allaire suggested that the auction could cause a short-term drop in the price of bitcoin, but looking at the charts this morning, we're looking at a high of $639 at Bitstamp and settled at $615 at the time of this writing. "The....
With news that the United States Marshals Service is planning to auction off about 30,000 bitcoins later this week (seized from the Silk Road illicit marketplace in 2013), big names are looking for some way to get involved. One such name happens to be Bitcoin Shop, Inc., an online retail store that sells a variety of products that can be purchased using the bitcoin digital currency. The company said on Monday that they have submitted registration with the United States Marshals Service in direct relation with the bitcoin auction. It's the prerequisite to the actual bidding process, which....