NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

BTC/USD rises 2% to hit $629 on BitStamp

Published 03/11/2014, 09:21 AM
BTC/USD gains 2% to trade at $629 on BitStamp
BTC/USD
-

Investing.com - Bitcoin edged higher in subdued trade on Tuesday, as prices of the virtual currency continued to rebound following a recent slump sparked by the bankruptcy of Tokyo-based Bitcoin exchange Mt. Gox.

BTC/USD held in a range between $609.00 and $635.00 on Slovenia-based BitStamp. Prices last traded at $629.00 during U.S. morning hours, up 2%, or $12.15.

The price of a Bitcoin on Bulgaria-based BTC-e picked up 2.1%, or $12.90, to trade at $626.50.

According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency added 0.3% to trade at $627.60.

Bitcoin prices have been well-supported since the unexpected collapse of Mt. Gox, once the world's biggest Bitcoin exchange.

Tokyo-based Mt. Gox filed for Chapter 15 bankruptcy protection in Dallas on March 8, supplementing a similar petition made in Japan late last month.

Mt. Gox was forced to shut down after saying it lost approximately 850,000 Bitcoin worth nearly $500 million after hackers gained access to its systems.

Prices of the crypto currency are up nearly 36% on Bitstamp since hitting a low of $400.00 on February 25, while prices on BTC-e have gained nearly 32% since hitting a low of $430.10 also on February 25.

Bitcoin is digital cash for the internet and it is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.