Well first of all, happy Friday to everyone! and for those of you that are into Cryptocurrencies you would probably know the price of Bitcoin as been going up, not at a speed that you can say sky rocketing but it’s there, and at least it’s going up and up. Sop tempting to sell what I currently have result from the many months of mining.
I’ve stopped selling Bitcoin when it dropped to below $600 a BTC. I usually sell it daily and made pretty good profit, sometime $500 a day profit when Bitcoin was at $700 to $1000. Many people believe the price of Bitcoin sky rocketed because of MtGox giving the wrong data, so low that people are buying, but then it keep on dropping at MtGox, buying it wasn’t easy at MtGox during that time. Eventually people see the real problem with MtGox. it has technical issues for many months, and then eventually closed down due to not knowing where their Bitcoin had disappeared to. Now MtGox filed bankruptcy and everyone whom have coins at MtGox loss all their Bitcoin. Hopefully this doesn’t happen with other exchanger such as coinbase, bitstamp, campbx, and so on, especially the cryptsy although it has been told that cryptsy have very poor performance.
Bottom line! hopefully Bitcoin holds its position or keep on going up, as this will definitely help the mining communities to pay electric bill.