Posts Tagged ‘Bitcoin price drop


The U.S. Marshals Service (USMS) has announced that they will be holding another auction for 50000 more Bitcoins that have being seized from Ross Ulbricht accused of being the Silk Road black market operator. This is the second auction of confiscated Bitcoins from Silk ROad after earlier this year USMS held an auction for about 30000 BTC. Last time the news about the auction have caused a sudden drop in the Bitcoin price and we are probably also going to see similar situation this time. However this time things will probably remain calmer, especially considering the fact that the price of Bitcoin is currently lower and people should not be so worried like the first time.

Interested parties must register for the auction between November 17th and December 1st and the auction itself will take place on December 4th with the winner of the auction to be announces by USMS on December 5, by 5:00pm EST. It will be interesting to see if Tim Draper who won the previous auction for all of the coins offered will be participating this time as well and if he will be ne winner again with the highest bid.

For more information about the second Bitcoin auction from US Marshal Service…


If you were wondering what caused the latest drop in price of Bitcoin, well it was the US Marshall Service that made an announcement for their intention to be auctioning 29,656.51306529 Bitcoins at the end of the month. These are the BTCs that were seized from Silk Road, though the auction will not include the substantially larger amount of Bitcoins belonging to Ross William Ulbricht, the operator of Silk Road. This news has caused the quick drop in price, but it seems that already things are starting to calm down and the price is slowly starting to get back up.

For more about the Bitcoin auction organized by the US Marshall Service…


Today the Bitcoin exchange rate started going down again and the reason seems to be some new rumors that the Chinese national bank is going to prohibit the trading of Bitcoins and other cryptos by not allowing banks to service the payments for crypto currency exchanges by ordering all Chinese banks and payment processors to close accounts of Chinese Bitcoin exchanges by 15th or April. It seems that this is still just a rumor as there is no official information, though some news services in China are apparently reporting the news and the result is as expected – panic sale. Some of the big Chinese crypto exchanges have reported that they are not aware of any official announcement and it is all just a rumor, but the information in question could just be sent to banks directly, though at the end of last year the central bank has issued official warning about trading of Bitcoins and this has caused panic and significant drop in the price of BTC that had previously hit a record high price. It seems that soon enough we’ll see if this time it was all just a hoax if the price starts to recover back to the normal level or we’ll get to see an official announcement…