Even though they try to put spin on bitcoin’s recent developments by calling it “virtual” and “linked to illegal activity online”, that hasn’t stopped the growing interest in this crypto currency (and others like litecoin) for legitimate uses.
Popular exchange BTC-e is down.
This may be another ddos attack which would not be the first time this exchange has suffered from one. This comes at at a time when BTC is hitting all times high well over $500 each. LTC and other altcoins are also frozen in charts from other websites that source BTC-e’s market prices, pretty irie.
So, at this moment it looks like BTC is tipping over into sell off on markets like Mt Gox and Bitstamp, which would usually equal dipping LTC prices – not so far.
Ah – I can hear the trollbox now… Sell Sell Sell!
Those bitcoins that made you gasp at $300 just a couple of weeks ago? They were a bargain — the value of 1 BTC has now passed $500.
That means: if you bought a stash of bitcoins at their absolute highest peak price of $266* in April 2013 and then felt nauseous as the price plunged to $65 the same week, you have now almost doubled your investment. Provided you didn’t cut your losses and sell prematurely, that is.
The bitcoin value began rising again almost immediately after that, breaking through the $100 mark again before May and hovering around that region throughout the northern hemisphere summer. It broke through $200 in late October and since then the price charts have been close to vertical, hitting $300 on 6 November and $400 on all exchanges by 15 November.
Rest of the article here: http://www.coindesk.com/bitcoin-price-hits-500-50x-increase-12-months/
Riding those waves on a daily basis making you sick? A new website from BitcoinAverage.com is out to calm the seas. With many more exchanges now in existence, averaging them all together can give us a clearer price point for USD/BTC and other exchange pairs.
I know I personally use to have many windows with different exchanges open all the time, not anymore. As more and more exchanges open all over the world, knowing the average cost of a bitcoin will provide more stability in the market, most likely in ways we have yet to see.
One of my favorite features of the website is the ability to take infamous Mt. Gox out of the equation. This is huge for anyone that has issues getting their currency out of the exchanges like USD as it no longer has to be factored into the price in your currency.
More exchanges will open over time, and thats a win win for websites like BitcoinAverage.
Long gone are the days of Mt. Gox ruling the bitcoin world of Mordor, who up until recently boasted their 80% market domination 2011 statistic on their homepage. BTC-e, a russian exchange that usually trends behind, has made tremendous headway in becoming the most traded exchange today.
Unlike Gox that trades only bitcoin, BTC-e trades a variety of popular cryptocurrencies as well as traditional currencies like USD, EUR and RUR. As more traders learn about alternative (to Mt. Gox) exchanges, they realize it’s a much bigger risk to only have the pair of BTC/USD available to them. With BTC-e’s hand selected currency pairs, a trader can move their wealth into a plethora of popular currencies depending on their needs and ideals, making BTC-e a more stable exchange overall.