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Bitcoin is still stuck right below the $600 figure. Today’s price action saw a high of $596 and a low of $583.98 but ultimately the crypto settled in the middle at $589 on BTC-E. One bitcoin is going for $595 a piece on BitStamp. As can be seen on the chart below, BTC/USD has spent the last five days in a range between $575 and $610. A break of either of these two extremes should exacerbate the move higher/lower.
Chinese bitcoin exchange Huobi announced a new project called BitVc. This will be a derivatives based platform that, similarly to OK Coin, will offer margin trading. BitVc is registered to Huobi’s subsidiary company in Hong Kong. The project is still in Beta and is currently invite only. The launch is planned for July 31st.
According to BTC betting market FairLay, the bitcoins seized during the Silk Road raid will be sold for pretty much the current market value. Bettors are slightly leaning toward a price over $600 per BTC. The bet that the winning bid will be over $650 only has 25% backers. Keep in mind that the volume in these markets is fairly low so it may not be a completely accurate representation of the public’s sentiment. The auction will be held on June 27th from 6AM to 6PM. To participate in the auction, interested parties have to send a $200,000 deposit by wire transfer.
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June 23, 2014 at 12:09AM
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