Bitcoin back on the rise as Mt. Gox briefly speaks


Bitcoin prices continue a sharp bounce after diving amid the closure of the Mt. Gox website. The most recent quote of $567.70 compares to a level about $200 lower 24 hours ago.

"I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues," writes Mt. Gox chief Mark Karpeles on the website.

In the meantime, U.S. and Japanese authorities have launched probes related to the case.

ETFs: BITCN, TUCND

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Comments (4)
  • Land of Milk and Honey
    , contributor
    Comments (8493) | Send Message
     
    So why didn't he announce this within minutes of the site's problems?
    26 Feb 2014, 07:43 AM Reply Like
  • Mike Andrewes
    , contributor
    Comments (75) | Send Message
     
    This gives Bitcoin investors confidence? He also told his employees do not answer any questions about the business. I dont see why anyone would even attempt to trust this company with any of their resources. There's just too many other options for where you can safely invest.
    26 Feb 2014, 08:13 AM Reply Like
  • SallySnyd
    , contributor
    Comments (8) | Send Message
     
    Here is an article that looks at where the value of a Bitcoin could be heading based on a reversal analysis:

     

    http://bit.ly/1gD5De3

     

    While Mt.Gox may not be the death knell, those who acquired Bitcoins near the peak may find that over the long-term, their assets are worth far less than what they paid for them.
    26 Feb 2014, 05:56 PM Reply Like
  • StevenMoore
    , contributor
    Comments (3) | Send Message
     
    Mt. Gox is not BTC and the folks that understand that are not going anywhere.
    Mt.Gox has had multiple issues over many years, and over the last 9 months have been less and less of a player.
    This is the purge of the 1st folks in... the pros are coming in and the BTC ecosystem will become stronger not weaker... (just my thoughts and the folks that I work with in this area.
    26 Feb 2014, 05:58 PM Reply Like
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