February 25, 2014 | Posted in:Cryptocurrecy trading
After the last days, loads of rumors circulated through the web regarding the current situation and the prospective future of the website that was “too big to fail”, as some said.
Mt.gox was responsible for the majority of Bitcoin trades in the past years. Now, mt.gox customers that tried to reach the mt.gox website and access their funds had a nasty surprise: a blank screen.
Furthermore, a paper leaked that is supposed to be the new strategical alignment of the exchange site seated in Tokyo, Japan. In this paper, a loss of more than 700.000 Bitcoin is documented and the suggestion of a rebranding from mt.gox to gox. This almost ensures the insolvency of mt.gox and is backed up by several other news that indicate the truth of this paper.
Maybe some people remember the shutdown of bitcoin-24.com where customers got 72% of their funds back after 8 months of waiting time and a verification. Let us all hope that the mt.gox customers will get their funds back, at least some of them.
After the paper leaked, the Bitcoin exchange rate dropped to 400$ on Bitstamp, meaning a new AllTimeLow since 2013-12-18.
Slowly but surely, it is about time to buy some cheap Bitcoin. In the authors’ eyes (prognosed at Dec 2013), Bitcoin should climb to a new peak at the end of march. This szenario fits quite well in the prognosis.