Bitcoin Is Suddenly Surging Again

Bloomberg writes:

Bitcoin is back in the news, but this time it seems to be for all the right reasons.

After a blockbuster 2013, the digital currency tumbled throughout 2014 on negative headlines, such as the February 2014 bankruptcy filing of Mt. Gox, a Tokyo-based Bitcoin exchange. Since then, the currency has been bouncing back and forth between $200 and $300.

That is, until now.

Bitcoin has embarked on a seven-week winning streak, the longest since November 2013, according to Bloomberg data. Industry experts and insiders have a range of reasons for the recent surge.

Market participants are citing two big reasons for the rally. The first is enhanced interest and acceptance from established financial companies. Much of this is due to Bitcoin’s blockchain technology, which Goldman Sachs, Morgan Stanley, and a number of other firms have taken an interest in as they seek to apply it to overhauling the trading of securities, derivatives, and loans.

Read the fill article at bloomberg HERE

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US Government to Sell Over 44,000 Bitcoins Today

Coindesk reports:

The US Marshals Service (USMS) has begun its auction of 44,341 BTC seized from convicted Silk Road operator Ross Ulbricht, marking the final sale in a process that began in June 2014.

The tranche constitutes the remainder of as much as144,000 BTC seized from Ulbricht, who ran the Silk Road dark marketplace under the pseudonym Dread Pirate Roberts. Ulricht was sentenced to life in prisonin May, though he is appealing the verdict.

Read the full article at the source HERE

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Trading on Bitfinex halted

Trading on Bitfinex halted – data corruption the possible cause?

This post will be updated as new information becomes available.

There is also a reddit Thread with updates:

https://www.reddit.com/r/BitcoinMarkets/comments/3idgx2/bitfinex_halts_trading_due_to_data_corruption/

Update 8:33 UTC

Update on Reddit: “Trading has resumed. I’ll try to make a post in here today/tomorrow with a full recap of what has taken place.” Source

Update 08:20 PM UTC

It is possible to set and cancel trades. Still no news from bitfinex.

Update 08:05 PM UTC

Some trades are going through but it does not look normal. No official statement from bitfinex yet.


 

Bitfinex just stopped trading until all problems are fixed. Withdrawals are processed manually as mentioned in a tweet earlier.

Bitfinex tweeted:

Bitfinex had trading problems earlier this week and halted trading for several hours on Monday. Today after several short downtimes trading has stopped completely until all problems are fixed.

 

 

 

 

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Its not about Greece buying BTC, its about public realization of capital controls.

A great comment i came across on the Bitcoin subreddit by u/PhiMinD:

Bitcoin is just a lifeboat in the sea of doubt surrounding modern economic policies. The potential for people to utilize such a lifeboat, with a very particular set of skills, is highly likely. Also, judging by how small the Bitcoin community still is, the potential for growth is astronomical.

Its rather shortsighted to think otherwise.

You can find the post and all the comments HERE

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