The Road To $150,000 – A Bitcoin Price Crash Will Be The Beginning
The recent Bitcoin price crash seems to have triggered a sell-off cascade that has continued to put bearish pressure on the cryptocurrency. This, in turn, has affected the broader market, causing altcoins to suffer major losses during this time. While there are still hopes for a quick recovery, analysts have warned investors that the Bitcoin […]
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Only six months after the Bitcoin price last reached an all-time high of $266 in April, Bitcoin is shooting up yet again. The rise started almost immediately after the beginning of October, when the anonymous market Silk Road was shut down and its owner arrested; although the price did drop down from $127 to a low of $85 on Bitstamp, it recovered quickly, and soon started rising from $127 at an average rate at over three percent per day. After a brief crash and consolidation at $200, Bitcoin kept rising again, and soon finally hit its new all-time high. First of all, what is different....
50,000 Bitcoins are going to be auctioned in the coming weeks. Despite the fact that Ross Ulbricht is not scheduled to stand trial until after the holiday season, the US Marshal's Service is going ahead with a second round of their Silk Road Bitcoin Auction. These Bitcoins that are currently being sold through the beginning of December likely belong to Ross Ulbricht himself, not Silk Road or Silk Road users. In January, Ross Ulbricht and his lawyers signed a court order that allowed the USMS to sell Bitcoins belonging to Silk Road and all property traceable from said crime, "including but....
The Guardian has a comprehensive review of Silk Road 2.0, one of the many successors of Silk Road. When Silk Road was closed down in October 2013, the prosecutors proclaimed the beginning of the end of this illicit trade. Not so. Now there are around 30 copycat marketplaces, including Hydra, Pandora, Outlaw Market, Agora, and 1776 Market Place, and most of them are doing a decent trade. The verdict on Silk Road 2.0: "Buying drugs from professional-looking sites with user ratings, proceed-to-carts and customer-service buttons makes sourcing cocaine a lot like buying a DVD or doing your....
After what looked to be a month of prosperity following the August bull run, Bitcoin has now entered into an era of increasingly bearish signals. The asset had seen a number of rallies that pushed it over two-month highs, successfully breaking above the $52K resistance range on a number of occasions. Throwing the entire market into a stretched-out period of positive sentiment. September has now come with its own unique set of problems for the digital asset. Bitcoin price has been suffering since the beginning of the month, ushered in with a flash crash that rocked the market only a week....
This week saw the beginning of alleged Silk Road operator Ross Ulbricht’s trial in a federal courthouse in Manhattan. Ulbricht’s counsel began the trial on an interesting note, arguing that Ulbricht indeed founded the site, but that he was not the Dread Pirate Roberts, the mysterious operator of the online free marketplace. In a cross-examination of DHS....