The bankrupt Mt. Gox Bitcoin exchange took another step toward oblivion today (Wednesday) when the Tokyo District Court dismissed its application for civil rehabilitation and steered it on a path to liquidation.
With the deadline for the Chinese Bitcoin exchanges to be cut off from their bank accounts upon us as of today (Tuesday), the Bitcoin price is rising.
Wait, what?
Reports that the People’s Bank of China (PBOC) planned to shut down the bank accounts of Chinese Bitcoin exchanges became all too real today (Thursday), as the exchanges began receiving official notices from their respective banks.
When the Internal Revenue Service (IRS) issued its guidance on digital currency a few weeks ago, it seemed that Bitcoin investing had gotten some very good news.
The Bitcoin market ended the week as it began – trying to sort out how far the Chinese central bank will go in its crackdown on the Chinese exchanges, and how that might affect Bitcoin prices everywhere else in the world.
Mainstream Chinese news outlet Caixin Online was the first to report last week that the People’s Bank of China (PBOC) was planning to force Chinese banks to close any accounts they have with Bitcoin exchanges by April 15.
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As the rumors of a crackdown by the People’s Bank of China have solidified over the past few days, Bitcoin prices have been hit hard.
Bitcoin prices plunged this week on reports that the People’s Bank of China (PBOC) was planning to block banks from providing accounts to Bitcoin-based businesses.
…most of the Bitcoin community has moved on from Mt. Gox, but the severity of the collapse ensures it will never be forgotten.
A fresh crisis may be the beginning of the end for Bitcoin exchange Mt. Gox, but the harm to the digital currency itself will be temporary.
Fans of the digital currency woke up Friday trying to figure out why Bitcoin prices are falling after more than a month of relative price stability on the Japan-based exchange.
Investing in Bitcoin isn’t as easy as investing in stocks – right now.
But the arrival of the Winklevoss Bitcoin ETF – an exchange-traded fund developed by twins Cameron and Tyler Winklevoss – will change that.
