Bitcoin is still trading undecided. After opening at $279.27, BTC/USD dipped to $277 flat on BTC-E. From here we rallied back up to $282.70. We are currently quoted at $280.00, only 73 cents higher compared to yesterday’s opening price.
Very similar price action could be seen on OKCoin. Here we opened at $280.71, fell to a daily low of $278.25 before going up to $284.54. One coin is selling for $283.10 on this exchange. A live OKCoin chart can be found on their website.
Futures on the same platform continue to price in a premium over spot. The nearest August 7th contract is trading $1 dollar higher, the August 14th contract is quoting price $3 dollars over spot, while the far-out September 25th is at $294.50 right now, a $11 dollars premium over exchange prices.
Because prices didn’t move much, the important levels remain the same. To avoid repetition, for more on this read our yesterday roundup.
The former CEO of now defunct bitcoin exchange MtGox admitted to some wrongdoing while in police custody. Mark Karpeles told authorities that he ”tweaked” the amounts in some user accounts. But the sums he admitted to are in the order of ”several tens of thousands of Yen” (several $100 USD). Furthermore Karpeles says that he did this to ”test the system.” It’s unclear why the ex-CEO chose to do a test in a live environment. Since his arrest, new claims have surfaced that he abused the system to pad his account by $8.9 million dollars. More on this story HERE.
MtGox was once the top BTC to USD exchange, handling over 90% of daily volume. It went out of business in February 2014. Karpeles blamed a hack for the missing 744,000 bitcoins, worth over $396 Million US Dollars at that time. One month later he ”found” 200,000 BTC in an old wallet. The ex-CEO was arrested by police two days ago.
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