thenews
28438
thenews  

Bitcoin prices little changed above the $500-level

Bitcoin remained above the key $500-level on Monday, as prices of the virtual currency stabilized following sharp losses suffered earlier in the month.

Bitcoin (BTC/USD) shed 0.69%, or $3.51, on Slovenia-based BitStamp to trade at $504.91 during U.S. morning hours. Prices held in a narrow range between $496.00 and $515.95.

Elsewhere, the price of a Bitcoin on Bulgaria-based BTC-e dipped 0.67%, or $3.36, to trade at $501.29.

According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency declined 0.91% to trade at $503.94.

Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) slumped 0.41%, or €1.58, to trade at €388.15 on U.S.-based Kraken Exchange.

Bitcoin prices tumbled sharply earlier in the month, with analysts blaming various events for this trend, including a recent U.S. government report that highlights the risks associated with virtual currencies, New York's BitLicense proposals, and the introduction of new sophisticated trading techniques.

A number of traders and market analysts also attributed the recent decline to price manipulation by short-term profiteers who are deliberately driving prices down to eventually buy them back at lows.

Bitcoin is digital cash and is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.

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thenews
28438
thenews  

Bitcoin prices rise 2% to trade above $520

Bitcoin prices firmed above the key $500-level on Wednesday, as prices of the virtual currency continued to recover from sharp losses suffered earlier in the month.

Bitcoin (BTC/USD) rallied 2.23%, or $11.38, on Slovenia-based BitStamp to trade at $521.38 during U.S. morning hours. Prices rose to a session high of $523.09, the most since August 22.

Elsewhere, the price of a Bitcoin on Bulgaria-based BTC-e tacked on 1.08%, or $5.50, to trade at $513.45.

According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency rose 1.17% to trade at $519.47.

Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) climbed 1.17%, or €4.53, to trade at €393.53 on U.S.-based Kraken Exchange.

Prices of the virtual currency have moved higher in recent sessions, following sharp losses suffered earlier in the month.

Market analysts have blamed various events for the downward trend, including a recent U.S. government report that highlights the risks associated with virtual currencies, New York's BitLicense proposals, and the introduction of new sophisticated trading techniques.

A number of traders and market participants also attributed the recent decline to price manipulation by short-term profiteers who are deliberately driving prices down to eventually buy them back at lows.

Global financial services provider Citigroup (NYSE:C) said in a research note published Tuesday that bitcoin’s price is poised for “acute instability” due to an oversupply of coins from miners and large merchants, along with a weak growth in demand.

The analysis points to the increased sophistication and cost of mining as a major driver for growth in bitcoin supply.

The reports adds that merchants that accept Bitcoin payments, such as Dell and Expedia (NASDAQ:EXPE), are converting any bitcoin they receive from customers into dollar or euros, putting further selling pressure on the bitcoin price.

Bitcoin is digital cash and is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.

source

[Deleted]  

Any good broker to trade Bitcoin with?

whisperer
1880
whisperer  
VSATrading:
Any good broker to trade Bitcoin with?

Bitcoin status is not regulated yet. It can be traded only as a commodity

whisperer
1880
whisperer  

You are right : bitcoin is not regulated, and cases like MtGox, show what can happen - you can get ripped of without any punishment for the thieves. And they do it (among others, I lost on Bitcoin that way when MtGox pulled of their scamm)

myname
3231
myname  
whisperer:
You are right : bitcoin is not regulated, and cases like MtGox, show what can happen - you can get ripped of without any punishment for the thieves. And they do it (among others, I lost on Bitcoin that way when MtGox pulled of their scamm)

The hype will coontinue

Since politicians and banks can controls "digital money" it is going to be the future of it. But first some people want to become the rulers of the world (you can not have multiple digital currencies based on supply and demand only)

techmac
2973
techmac  

Why would anybody use bitcoin at this moment?

Using a commodity that can be manipulated by the same people that you are paying to is not a smart move. And just think : some company gets a lot of bitcoins selling something. What are they going to do? Sell those bitcoins. And there you go. By simple existence of regular paying system digital money is doomed to manipulations and severe changes. And in all cases those are users that are going to lose

thenews
28438
thenews  

Bitcoin rises to test $490-resistance level

Bitcoin prices edged higher on Wednesday to test the key $490-resistance level following news that EBay's PayPal service will begin accepting bitcoins.

Bitcoin (BTC/USD) climbed 1.62%, or $7.66, on Slovenia-based BitStamp to trade at $481.64 during U.S. morning hours. Prices held in a range between $462.56 and $483.21.

Bitcoin prices were likely to find support at $455.22, the low from August 19, and resistance at $497.00, the high from September 4.

Elsewhere, the price of a Bitcoin on Bulgaria-based BTC-e eased up 0.18%, or 85 cents, to trade at $473.35.

According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency rallied 1.87% to trade at $480.37.

Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) tacked on 1.6%, or €5.87, to trade at €372.21 on U.S.-based Kraken Exchange.

Prices of the virtual currency remained supported after EBay announced on September 8 that Braintree, the company’s payment processor unit, would begin accepting Bitcoin in the “coming months.”

EBay, the world’s biggest online marketplace, is the most significant business to date that’s embraced bitcoin. Dell, Dish Networks (NASDAQ:DISH), Overstock.com (NASDAQ:OSTK) and Expedia (NASDAQ:EXPE) also began accepting the virtual currency earlier in the year.

Bitcoin is digital cash and is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.

source

thenews
28438
thenews  

Bitcoin consolidates below the $470-level in lackluster trade

Bitcoin prices consolidated below the $470-level in range bound trade on Tuesday, as market players were reluctant to enter the market amid bearish chart signals.

Bitcoin (BTC/USD) slumped $6.79, or 1.43%, on Slovenia-based BitStamp to trade at $469.20 during U.S. morning hours. Prices held in a narrow range between $465.00 and $478.90.

Bitcoin prices were likely to find support at $456.30, the low from September 8, and resistance at $490.74, the high from September 10.

Elsewhere, the price of a bitcoin on Bulgaria-based BTC-e shed $4.58, or 0.98%, to trade at $462.63, while prices on Singapore-based itBit rose $3.35, or 0.72%, to trade at $470.15.

According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency slipped 0.33% to trade at $469.80.

Investors hesitated to open fresh positions after prices failed to close above a key resistance level near the $490-mark last week, indicating bearish chart signals.

Prices of the virtual currency remained supported after United Way Worldwide announced on Monday that it would begin accepting bitcoin for donations.

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myname
3231
myname  

Bitcoin sure went down substantially since I checked it the least time