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Mt. Gox Seizures Linked to Silk Road in Fed Testimonies

Last summer, news that federal agents had seized a combined $5M from accounts owned by Mt. Gox roiled bitcoin markets. The warrants enabling the action cited improper filings when the company opened its bank accounts, including unlicensed operation of a money service business. Yet, written testimonies from federal regulators for the recent Senate hearings on digital currencies indicate the seizures were actually part of the much larger crackdown on online narcotics marketplace Silk Road – insight that presumably had to remain hidden at the time of the seizures due to the ongoing investigation. Experienced market participants will recall that before …

Jan 13, 2014 Posted by The Genesis Block In Businesses, Featured, News, Regulatory, Trading Tagged analysis, ICE, Silk Road, USSS

Analyzing Trade Clustering To Predict Price Movement In Bitcoin Trading

Financial markets, like many interactions in the world, are often self-exciting. Said differently, events within a dataset can actually serve as the impetus for more of the same events to a calculable extent. Statistical models to analyze self-excitability are used to understand both the independence and causal dependence of observations in such fields as seismology (study of earthquakes), criminology (study of crime) and more recently by algorithmic traders to understand financial markets. With the bitcoin markets having grown enough to offer ample data, self-excitability and its implication on bitcoin prices can now be observed as well. Excitability in Bitcoin Trading …

Sep 19, 2013 Posted by Jonathan Heusser In Bitcoin 201, Economics, Featured, News, Trading Tagged analysis, Bitcoin Trading, Hawkes Process, Jonathan Heusser, London, price, trading

Samsung Lead CPU Architect Bets On Bitcoin Mining

Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. Samsung Lead CPU Architect To Head Cointerra Cointerra recently announced their entrance into ASIC bitcoin mining with 28nm chips. Application specific integrated circuits (ASIC) are customized components that perform the calculations necessary for bitcoin mining. The team is lead by Ravi Iyengar, previously the Lead CPU Architect at Samsung where he helped design chips for compact mobile devices such as the Galaxy S4. Iyengar has also previously worked at industry giants Qualcomm and NVIDIA. He is joined by Chief Architect Dr. David Tannenbaum, a principal engineer at NVIDIA, and VP …

Aug 5, 2013 Posted by Jeff Schvey In Businesses, Featured, Mining, News Tagged analysis, ASIC, Avalon, CNBC, investment, Joe Lewis, market cap, NVIDIA, Phoenix Fund, TSM, WSJ

Bitcoin Trading: Interpreting Order Books

In this article we will review how read a bitcoin order book, how to interpret a bitcoin order book, and how to spot common market manipulation techniques by properly understanding order book dynamics. What is an Order Book? An order book is a ledger containing all outstanding orders – instructions from traders to buy or sell bitcoin. An order to buy is called a “bid” and an order to sell is called an “ask.” Bids and asks are paired up as soon as their requirements are fulfilled, resulting in a trade. For introductory purposes there are two primary order types …

Apr 22, 2013 Posted by Phillip Archer In Bitcoin 201, Trading Tagged analysis, ask, bid, Bitcoin, BTC, Order Book, price, trading, volume, wall

Tough Day For Bitcoin Exchanges: Gox DDOS’d, Bitcoin-24 Halted, BitFloor Shuts Down Permanently

UPDATE: See our analysis of this DDoS in our newer post: Have We Reached A Turning Point For Bitcoin Exchange DDoS? Quite a day already for Bitcoin exchanges, but I want to remind anyone reading this: exchanges and other private companies are not bitcoin. We are in the infancy of what may be the greatest fundamental shift for human society of the 21st century. There are going to be hiccups as the market develops, that does make the underlying bitcoin protocol any less viable. In fact, there are even some glimmers of hope in the darkness. See below for an …

Apr 18, 2013 Posted by Jonathan Stacke In Businesses, News Tagged analysis, Bitcoin, DDOS, Trading Halted, UPDATE

Bitcoin Trading: Volatility Squeeze Points to Breakout, Bias to Upside

UPDATE (21:45 GMT): Finally just saw the volume we’ve been looking for, predicted jump materialized. UPDATE (16:44 GMT): Gox DDOS confirmed. Our prediction of a continuation pattern proved correct (97.5 now vs 91 at posting) and we maintain a positive bias, though proper breakout catalyzation may be difficult with the trickles of volume making it through Gox. Stay tuned for updates. UPDATE (13:01 GMT) : Looks like Gox is down. Potential DDOS. May drastically affect the time-sensitive nature of trend analysis – further updates once the situation is resolved. Once again we’re seeing a notable low volume volatility squeeze. …

Apr 18, 2013 Posted by Jonathan Stacke In News, Trading Tagged analysis, trading, UPDATE, volume

Bitcoin technicals – first bullish chart in days

It’s been a rough few days to be bullish for bitcoin, but the technicals indicate the pain will be easing soon. The chart below is the BTC/USD exchange rate on Mt. Gox for the last week using 1 hour candles. As I write this article Bitcoin is just below $100. There are three characteristics of this chart that indicate the first bullish signal in a long time: a capitulation bottom, 2 closes over the 21hour EMA, and a crossover of the 7EMA and 21EMA. 1) Capitulation Bottom: Capitulation occurs when investors give up all hope, and just want to …

Apr 12, 2013 Posted by Phillip Archer In News, Trading Tagged analysis, Bitcoin, EMA, Exponential Moving Average, MA, price, technical

24 Hour Update: Bitcoin Move Realized

We hit our price target less than 24 hours after the breakout from $144. The ascending triangle continuously proves to be one of the most reliable patterns in bitcoin. This pattern frequently occurs as traders notice strong resistance at a price level and sell in hopes of re-adding the position at any pull-backs. As people become less confident in these pull-backs the dips become increasingly shallow. This is usually a continuation pattern meaning that the market will continue the trend it was in when the pattern started. When we finally broke through the resistance at $144, people that had been selling their position …

Apr 8, 2013 Posted by Phillip Archer In News, Trading Tagged analysis, Bitcoin, charts, price, technical analysis, trading

Bitcoin Coiled for Large Move

After a relatively quiet few days, BTC/USD charts indicate that bitcoin is positioned for a massive move. Although the direction is not 100% clear, there is a definitely a bias to the up-side. The upper red line on the chart indicates resistance at a constat level, while the lower lower shows support at increasingly higher lows. This pattern is typical of increasing upward pressure, and a breakout seems imminent as the lines are about to cross. It would not be surprising to see a move comparable to the size of the triangle, or approximately 30 points from our current position. Update: 24 Hours …

Apr 7, 2013 Posted by Phillip Archer In News, Trading Tagged analysis, Bitcoin, bitcoinicity, charts, trading