BREAKING: No Grexit - Bitcoin Price Tumbles
The Belgian Prime Minister Charles Michel broke the news that there will be no "Grexit" after 17 hours with hard negotiations with other European leaders and Greece's Prime Minister Alexis Tsipras. According to AFP, Alexis Tsipras, François Hollande, Angela Merkel, and the EU President Donald Tusk locked themselves in a meeting room for four hours to come to a final agreement. After the announcements on Twitter, we saw a massive bitcoin sell-off. The bitcoin price is still on its way down from its high yesterday of $317 per BTC and is now hovering around $280 per bitcoin (CET 09:45).....
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Written by Colin Kwan, COO of Magnr/BTC.sx. Colin has over 10 years experience in investment banking, including senior management roles at UBS and Deutsche Bank. Colin also holds an MBA from the Australian Graduate School of Management. At the time of writing, the Greece debt crisis appears to have been averted, or at the least delayed. A €50 billion bailout package has been offered, if the Greek parliament agrees to implement extensive reforms that have been demanded by the eurozone. Although the risk of a Grexit has been reduced, it has not been eliminated. If the parliament votes to....
OKB is trading just above $4, down from nearly $6 before the news.
BTC price at press time: US$285. Last week’s price alert began with: “Price had been consolidating above the 50 & 100 day EMAs for some time after breaking above them, which was a bullish sign. Now price is right up against resistance at the 200 day EMA (~US$271) and looking to break above it. Doing this should pave the road for a test of the US$300 area. Something else bullish is also occurring. The 50 & 100 day EMAs are about to make a bullish crossover. This is what one wants to see if a real bullish picture is to emerge. Right now, the 200 day EMA is above the 100 day, which is above....
On Saturday, the Litecoin market holdings were dropped like third-period French. In much the same fashion, the ultra-secure altcoin Dash has also seen a marked rise in trading over the weekend, stoking fears of an equally precipitous decline in the coming days. As we reported on Friday, an alleged “Pump-and-Dump” scam was suspected for the Litecoin currency and its sudden meteoric rise. Advocates of the altcoins would remark that the Grexit is a factor in the sudden value spikes and has helped them, as it has bitcoin. The hard numbers do not bear this out. For no particular reason, trading....
In March/April 2013, the exchange rate of bitcoin soared as a consequence of harsh capital controls introduced in Cyprus. Many people came to the conclusion that governments and banks couldn't be trusted with their hard-earned savings, and started looking for alternative ways to store value, out of reach of predatory central banks. Bitcoin came to the rescue, and its price shot up as many people rushed to take money out of their saving accounts and buy bitcoin instead. The recent spike in the exchange rate of bitcoin, which went up 10 percent in the last 24 hours - something unheard of in....