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Tuesday, February 11, 2014

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The bitcoin below 600 usd - Time to buy



 On Tuesday morning , the virtual currency traded at Mt.Gox , main house exchange , 433 euros and BTC -E to 520 euros. The oscillation of the virtual currency has been a constant throughout history , because in six months has ranged from a low of $ 85 ( 62 euros ) and a maximum of $ 1,163 (850 euros) , however in the last month remained stable at around $ 900.

On Friday, the normally broke Mt.Gox to be detected in an "unusual " activity , so that its leaders decided to halt the exchange until Monday and so clarify the origin of these movements . But on Monday announced postponement undated . Then the currency slumped to a low of $ 500, down 27% from Friday's final price which was $ 692.

" This technical problem is much greater than we have seen in the past intensity ," said Sebastien Galy Reuters analyst at Societe Generale in New York. "The market may realize that there are issues that are specific to these forms of exchange ."

The bitcoin in recent months continued to gain acceptance in the usual physical transactions , the acceptance of several casinos in Las Vegas and fertilizers inputs Sacramento Kings basketball team .

Mt.Gox explained that an "error in the bitcoin software " could allow alteration of the transaction. Anyone on the network can alter details of the exchange to make it appear that a transfer of a digital wallet bitcoins to another has not occurred when in fact they had done , which leads to repeat.

CoinDesk , which launched Bitcoin Price Index in September, has retired to the house Mt.Gox index for its " persistent failure to meet the standards of the index."

The index CoinDesk bitcoin prices were lower, but not as much as in Mt.Gox . Currency to $ 667.79 on Monday afternoon was paid a 5 % down from Friday's close . In any well below a thousand dollars that was trading case in January .

The arrest of a prominent defender of bitcoin few weeks ago has added uncertainty to the currency . Charlie Shrem , operator Bitinstant exchange company , was accused by U.S. prosecutors of money laundering on site Silk Road. The next day, Shrem resigned as vice president of the Bitcoin Foundation, an advocacy group promoting this and virtual currency.

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