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Bitcoin Falls to Support at $550 on Technical Chart

The price of Bitcoin fell through $600 over the weekend and has continued lower to support around $550. The chart shows a descending triangle pattern, which is usually bearish and suggests a continuation of the prevailing trend direction. The pattern suggests that if support at $550 fails, a much deeper dive below $500 can be [...]

By |March 24th, 2014|Bitcoin|

Time to Exit Litecoin?

Litecoin was fascinating when it first came out. It was like silver to Bitcoin as gold, with logo colors to match. Some tout the benefit of faster transactions, but Bitcoin usually gives instantaneous confirmations when making purchases or transfers. Litecoin was once much more efficient to mine, but that advantage has mostly passed. It my [...]

By |March 4th, 2014|Bitcoin|

Is Bitcoin Dead after Mt Gox Bankruptcy?

The mainstream media hates Bitcoin and must have marching orders to bash the crypto-currency however possible. They call it a Ponzi scheme, which by definition it is not. By definition, a Ponzi scheme must eventually fail since “the scheme requires a continual stream of investments to fund higher returns, once investment slows down, the scheme collapses” (Wikipedia). Bitcoin is [...]

By |March 1st, 2014|Bitcoin, Technology News|

Bill to Make Bitcoin Legal Advances in California

A bill unanimously passed by the California State Assembly last week moves to end legal confusion and make Bitcoin “lawful money.” AB 129’s fate now rests with the State Senate. Once passed through the Senate Policy Committee and the Senate Fiscal Committee it will reach the Senate Floor. If the bill passes the Senate, the final decision rests with [...]

By |February 23rd, 2014|Bitcoin|

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|

Time to Buy the Dip in Tech Stocks?

The stock market is selling off sharply again today, as weak economic data from China and disappointing earnings are weighing on investor sentiment. Concerns about the FED announcing additional tapering at their Jan 28-29 meeting are also rattling investors, as the WSJ is projecting an additional $10B in tapering. In the first edition of the [...]

By |January 27th, 2014|Technology News|

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|