Has bitcoin lost its groove?

October 21st, 2016

“I'd take the awe of understanding over the awe of ignorance any day.”
― Douglas Adams, 'The Salmon of Doubt'

Remember the Bitfinex hack that stopped bitcoin’s rally in its tracks?

Apparently its effects are still being felt months later. Bitcoin recently had its most stable month in terms of price, increasing in September by a “mere” 6.3%. Some observers are blaming this relative calm on the shadow of the theft, even though there are signs that the exchange is pulling through.

At first you would think that the “disappearance” of 120,000 BTC from the market would increase volatility, by making it less liquid. But no. Even though long positions show that sentiment is bullish, traders are apparently sitting on the sidelines. Why?

Is this the new normal? Or will it be business as usual as 2017 rolls around? (Read the full story.)

More news:

· The plot thickens: ViaBTC’s switch to Bitcoin Unlimited could complicate the scaling debate. Yes, even further.

· The Chinese government releases initial results of its blockchain research. How do you say “white paper” in Chinese?

· Law firm Perkins Coie boosts its blockchain and fintech practice with a new hire. Who?

· R3 uses Ripple’s XRP in an international payments trial. Wait, what?

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