Category: Bitcoin
The analysis published under this category are as follows.
Wednesday, January 14, 2015
Bitcoin Price Pause in the Decline Might Be Close / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Another slide in the price of Bitcoin, another day of more negative news on the cryptocurrency. Quite interestingly, we saw the "Bitcoin crash" news on the main page of the New York Times' Dealbook. The article "As Bitcoin's Price Slides, Signs of a Squeeze" also made it into the "Most Viewed" section of the website. In the piece, we read:
Read full article... Read full article...The price of Bitcoin slid further on Tuesday, dipping to its lowest level since the spring of 2013. The downward spiral, which began early last year, suggests that confidence in the virtual currency may be dwindling.
Tuesday, January 13, 2015
Bitcoin Price At Beginning of an Extremely Important Decline / Commodities / Bitcoin
By: Mike_McAra
Briefly: short speculative positions, stop-loss at $257, take-profit at $153.
There’s been a plunge in the price of Bitcoin and this is reflected by an uptick in the (already relatively high) number of news stories covering the “Bitcoin crash” or how much the currency has lost since its peak values. On CoinDesk, we read:
The bitcoin price has plunged below $250 and appears to be falling further, as sell orders pile up at major exchanges.
Read full article... Read full article...
Saturday, January 10, 2015
Bitcoin Price in Tense Territory / Currencies / Bitcoin
By: Mike_McAra
We read on Reuters that BitStamp had confirmed their exchange would go online during the day today:
Bitstamp, one of the largest exchanges for the digital bitcoin currency, said it would resume trading later on Friday after suspending operations because of a security breach on Sunday.
Bitstamp had suspended its service after the breach resulted in the loss of around 19,000 bitcoins with a value of some $5 million.
Read full article... Read full article...
Wednesday, January 07, 2015
Bitcoin Price Down 12 Percent Already 2015 – Cyber Attack On Major Exchange / Currencies / Bitcoin
By: GoldCore
2015 has not started well for bitcoin with prices having fallen 12%, from $320 to $288. The cyber attack on a leading bitcoin exchange is the latest challenge for the fledgling digital currency.
Bitstamp, Europe’s leading bitcoin exchange – and third largest globally – has been off-line following a breach in their system by hackers on Sunday night. The UK based company has suspended lodgements and withdrawals and reported that roughly $5.1 million, around 19,000 BTC, had been ‘lost.’ The revelation follows the disclosure that Bitstamp’s wallet system has been compromised, prompting it to halt deposits and later shut down its platform entirely according to Coin Desk.
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Wednesday, January 07, 2015
Bitcoin Price Stands Still but the Outlook Might Have Changed / Currencies / Bitcoin
By: Mike_McAra
Briefly: short speculative positions, stop-loss at $312, take-profit at $203.
BitStamp, one of the popular Bitcoin exchanges, posted an update on its website, giving customers more information on the recent security breach and its consequences:
Read full article... Read full article...We have temporarily suspended Bitstamp services. Bitstamp customers can rest assured that their bitcoins held with us prior to temporary suspension of services on January 5th (at 9am UTC) are completely safe and will be honored in full.
Friday, January 02, 2015
Will New Year Bring New Bitcoin Developments? / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
BitMEX, a Bitcoin derivatives exchange will post a Bitcoin volatility index, which will be a measure of the magnitude of change in the price of the cryptocurrency, we read on CoinDesk:
Derivatives exchange BitMEX will publish an index on 5th January that it hopes will become the bitcoin world's version of the VIX– the so-called 'fear index' that is used to gauge uncertainty in the wider financial markets.
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Tuesday, December 30, 2014
Bitcoin Price Could Move Down / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Looking back at Bitcoin in 2014, we see that this was not a kind year for the currency, at least not in terms of the price. Bitcoin has gone down some 50% (!) since the beginning of the year or some 70% (!) since December 2013. Not particularly encouraging results, and even Bitcoin-focused websites make mention of them. On CoinDesk, we read:
If the story of bitcoin in 2013 was its meteoric rise in price, which saw it hit a peak of over $1,100 in November, then the tale of bitcoin's price this year is one of plummeting from those heights.
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Tuesday, December 30, 2014
The 5 Phases of Bitcoin Adoption / Currencies / Bitcoin
By: John_Mauldin
What will it take for Bitcoin to gain broad adoption and become the foundation of a new global financial system?
Worth Wray sat down with Barry Silbert, founder of the Bitcoin Investment Trust, to discuss. As one the most active venture capitalists in the industry (with investments in over 30 Bitcoin-related portfolio companies through the Bitcoin Opportunity Corp.), Barry has gone all-in on Bitcoin and Bitcoin-related businesses.
Read full article... Read full article...
Sunday, December 21, 2014
BItcoin and Altcoins in 2015 / Currencies / Bitcoin
By: Mark_Blair
One: Bitcoin has been stuck for a while in a sort of ‘deflationary spiral.’ This means that commercial adoption by companies like Microsoft and Time has kept Btc’s price DOWN: no one wants to sell at this price coin that they (a) paid more for, and (b) can clearly see will rise greatly in value.
The Mining Thing – whereby miners tend to sell now rather than later (to pay for electricity) – remains an aspect.
Saturday, December 20, 2014
Important Development for Bitcoin Traders / Commodities / Bitcoin
By: Mike_McAra
Briefly: short speculative positions, stop-loss at $332, take-profit at $275.
We read an interesting piece on Tech Crunch on how 2014 was difficult for Bitcoin:
Read full article... Read full article...Overall creation of bitcoin wallets is up, which is an indication of continued interest from potential buyers. Wallets are files that contain private keys used to unlock the bitcoins within the tool so that you can spend them. It's akin to a physical wallet that holds credit cards.
Friday, December 12, 2014
Bitcoins - Cryptocurrencies and a Wider Regression Theorem / Currencies / Bitcoin
By: MISES
Peter St. Onge writes: The debate whether or not cryptocurrencies are “money” has put a spotlight on the Menger-Mises Regression Theorem. As stated, the theorem posits that a non-fiat money must have had value before it became a money. Some have used currencies’ lack of antecedent value as knocking it off the money pedestal or as forcing cryptocurrencies to ignominiously piggyback on fiat currencies’ own regressions.
Thursday, December 11, 2014
Bitcoin Might Not Be Money, but Cryptocurrencies are the Way of the Future / Currencies / Bitcoin
By: Steve_H_Hanke
Kevin Dowd, a long-time friend and eminent free-banking authority, set his sights on Bitcoin in the book he published this summer: New Private Monies: A Bit Part Player?. His work delivers a refreshingly accurate and straightforward assessment of Bitcoin, ignoring the hype which surrounds it.
Wednesday, December 03, 2014
Bitcoin Price Strong Move Around the Corner? / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Tim Draper, the venture capitalist who bought almost 30,000 bitcoins off the U.S. government during the auction of the coins seized from the black market Silk Road, has shared what made him believe in the cryptocurrency, we read on the Wall Street Journal website:
Read full article... Read full article...One event that inspired venture capitalist Tim Draper to amass a huge stash of bitcoin was the same one that turned other investors away.
Monday, December 01, 2014
Is Bitcoin the Future? / Currencies / Bitcoin
By: John_Mauldin
Bitcoin is a topic of discussion almost everywhere I go. My introduction to Bitcoin came when I was speaking at a gold conference in Palm Springs and three bright-eyed, bushy-tailed college students approached me with a video camera and asked for my thoughts on Bitcoin. Noting my confusion, they began to evangelistically espouse the virtues of Bitcoin and tell me how it would save us from the evils of the Federal Reserve. I kept from rolling my eyes (you do want to encourage passion in the young) and mentioned a meeting that I had to go to – at that very moment as it turned out.
Saturday, November 22, 2014
Bitcoin Price Moving to Below $350? / Commodities / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Mozilla has started accepting Bitcoin donations, we read on CoinDesk:
Read full article... Read full article...Mozilla, the open-source development community behind the popular Firefox web browser, is now accepting bitcoin donations.
The Mozilla Foundation, the non-profit entity that provides support for the community's broad open-source development, will be partnering with Coinbase to accept bitcoin contributions. The California-based bitcoin services provider announced the deal on its blog, where it reinforced that, per its policies toward charities, it will not charge fees for the donations it processes.
Tuesday, November 18, 2014
Bitcoin Price Did We Just See an Important Slump? / Currencies / Bitcoin
By: Mike_McAra
The Commodity Futures Trading Commission (CFTC) expressed an opinion it does have authority over Bitcoin, at least as far as investigating any possible price manipulation is concerned, we read on The Wall Street Journal website:
A commissioner at the Commodity Futures Trading Commission said Monday that the agency was authorized to intervene with enforcement actions against price manipulation in bitcoin markets.
Read full article... Read full article...
Friday, November 07, 2014
Bitcoin Price Volatility / Currencies / Bitcoin
By: Mike_McAra
In short: speculative short positions, stop-loss at $377, take-profit at $307.
Mark Wetjen, a member of the Commodity Futures Trading Commission (CFTC), wrote an opinion piece for The Wall Street Journal in which he highlighted the potential of Bitcoin:
Read full article... Read full article...With a market capitalization of around $4.4 billion, Bitcoin represents a tiny fraction of the U.S. financial system. But as Jerry Brito, director of the think tank Coin Center, said at our public meeting, Bitcoin has the potential to provide tremendous benefits to the under-banked and un-banked, particularly in emerging markets where traditional financial services often are not available. Bitcoin is likely to be an especially powerful resource for people who rely on mobile-payment systems on their smartphones.
Tuesday, November 04, 2014
Bitcoin Price Move to $300 Might Be Closer Than It Appears / Currencies / Bitcoin
By: Mike_McAra
Briefly: speculative short positions, stop-loss at $377, take-profit at $307.
The British government is looking to have a discussion with the Bitcoin community on how to deal with the cryptocurrency, we read on the Guardian website:
Read full article... Read full article...The Treasury will be looking at examples of regulation in other countries, but emphasises that the lead will come from responses to its own call for information. "Digital currencies and digital currency exchanges are currently unregulated in the UK," said a Treasury spokesman.
Friday, October 31, 2014
More Weakness in Bitcoin Price / Currencies / Bitcoin
By: Mike_McAra
To the point: speculative short positions, stop-loss at $377, take-profit at $307.
Jon Matonis, the executive director of the Bitcoin Foundation has resigned, we read on the NY Times website:
The Bitcoin Foundation announced on Thursday that Jon Matonis, one of the foundation's founding board members, was stepping down as its executive director, effective on Friday. Mr. Matonis will remain on the foundation's board until Dec. 31.
Read full article... Read full article...Mr. Matonis, who was named executive director in July 2013, will be succeeded by Patrick Murck, the foundation's general counsel.
Wednesday, October 29, 2014
Bitcoin Price Narrow Range, Might Not Be for Long / Currencies / Bitcoin
By: Mike_McAra
To the point: no speculative positions.
Bitcoin companies are already working on various issues regarding regulatory compliance. Arthur Levitt, a former SEC chairman, is now advising two Bitcoin-related companies, we read on the Wall Street Journal Website:
Read full article... Read full article...Arthur Levitt, the longest-serving chairman of the Securities and Exchange Commission, is joining the advisory boards of two bitcoin-focused companies.