Update: Feb 17, 1:32p EST This morning, Mt. Gox announced a technical solution to the bitcoin withdrawal issue is being tested. A timeline for actual reinstatement of withdrawals remains to be seen, though an update was promised by Thursday. As discussed / expected in our original discussion below, XBT / USD has since climbed on the news and the impact has been more significant at Mt. Gox (up ~35%) than the rest of the market (up ~7%), like for two reasons: The general dissociation of Mt. Gox and the rest of the market as outlined below Anyone looking to capitalize on arbitrage …
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As bitcoin continues to climb to record highs, reaching as high as $1,141 on Bitstamp, it is joined in growth by a number of alternative digital currencies. The most visible has been litecoin, which has returned to what might be considered a normal trading range relative to bitcoin. Litecoin is not alone in its gains, with others like Peercoin and Namecoin making similar gains. The rise of litecoin has made numerous headlines over the past week, surprising many with its meteoric gains and crossing of one billion dollars of market capitalization. Yet, the dynamics in which it is actually traded …
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In the world of bitcoin wallets, users have historically had to prioritize between ease of use, accessibility, and security. That decision may be easier now, thanks to the Bitcoin Foundation’s grant to Coinpunk, an open source, self-hosted wallet. Such a solution would allow users to access their bitcoin wallet via the web, without the counterparty risk of an external service to manage the process. The grant to Coinpunk marks the Bitcoin Foundation’s third allocation since announcing the program in December 2012. This grant falls in line with the goals expressed by Executive Chairman emeritus Peter Vessenes – to support projects that …
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Earlier this week, 250 bitcoin enthusiasts, venture capitalists, and entrepreneurs converged in London’s legendary Canary Wharf for Bitcoin London. Of those in attendance, more than 30 were from media outlets including Bloomberg, the Financial Times, the Guardian, Tech Crunch and others, according to Pamir Gelenbe, the conference’s organizer. “Innovation comes from the outside; it takes something from left field to change the system. Eventually the financial services sector will catch up,” Gelenbe told us. Given the innovators, financial professionals and media in attendance, Bitcoin London may have been an important step to that end. Opening the event was an address …
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Jul 4, 2013
Posted
Economics, Featured, News, Trading
Tagged Bitcoin London, gold, London, price, technical, Western Union
The bitcoin market is currently facing a number of technical headwinds, including a likely retest of a critical support level and a cross below a key long term moving average. Key Support Test The low 90s have proven to be strong support for downward pressure over the past three months. That level first served as the inflection point for the final run-up before bitcoin peaked at $266/BTC. Since then, the low 90s has served as support for downward price action, accompanied by outsized volume, indicating a key technical level. Downward pressure towards that level has been increasing since it was …
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The Genesis Block is proud to announce the launch of the Bitcoin Market Dashboard, the first in a series of free tools we’re developing for the bitcoin community. Our team was looking for a single reference we could leave open to stay fully updated on the market. Since nothing available fit our needs, we built the Market Dashboard and are more than happy to share it with the world. A brief feature overview is below. Live and Historical Data As our readers know by now, understanding the bitcoin market requires far more than the latest exchange rate. To help you gain …
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Jun 27, 2013
Posted
Businesses, Economics, Featured, General, News, Trading
Tagged Historical Data, price, technical, volume
Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. A bitcoin mining company just sold more than $1,000,000 worth of hardware. ASICMiner is a publicly traded bitcoin company that both operates and sells bitcoin mining hardware. In their latest auction they successfully sold 180 ASIC mining blades for 49.99 bitcoins (BTC) each. This totals 9,000 BTC and with a current exchange rate of $117 per bitcoin, that is over $1,050,000. Each of these cards run at 10 GH/s, and require some technical sophistication to run, so they’re not for amateur miners. The record-breaking auction is the largest …
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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 …
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