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Mt Gox Bitcoin Price Triples Within Hours, Other Exchanges Back Above $600

I have been watching for the Bitcoin price to find support around $525, the low from December. It did slightly better, dipping to a low of $530 on Feb 21st and then proceeding to bounce back above $600 today. Technically speaking, this price action is very bullish as a 'higher low' was established, indicative of [...]

By |February 23rd, 2014|Bitcoin|

Bitcoin Shrugged

Bitcoin has been attacked from multiple angles over the past month. China's Central Bank essentially banned financial institutions and payment processing companies from handling Bitcoin. The directive said the step was needed to “protect the status of the renminbi as the statutory currency, prevent risks of money laundering and protect financial stability.” Chinese authorities said that [...]

By |February 15th, 2014|Bitcoin|

Bitcoin Climbs Back Above $1,000 Despite Jamie Dimon Bashing

Bitcoin climbed as high as $1,038 this morning, before dropping back towards $1,000. This was the third attempt at breaking out above the psychologically important $1,000 level so far this year. I believe it is only a matter of time before $1,000 turns from resistance into support and Bitcoin marches towards $2,000 or higher. With [...]

By |January 26th, 2014|Bitcoin|