Rally in bitcoin – Since reaching it's high of approx USD $1200 prior to the collapse of the Mt Gox exchange the Bitcoin price retraced to a low of USD $320. Meanwhile the cryptocurrency economy has exploded. The USD price of bitcoin appears coiled for a rally. A trigger for the previous rally was the take-down of Silk Road. Last week we had the take-down of Silk Road 2 see http://bravenewcoin.com/news/silk-road-a-tried-and-tested/ (Brave New Coin is an excellent site out of New Zealand). Though the action by the Feds will have minimal impact on the bitcoin economy, there has been a 20% rally in USD price in the last 24hrs. This may gather momentum. Hang on to your hats boys and girls.
DCC Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
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