Bitcoin Trades Flat, MtGox CEO Charged

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Bitcoin closed the day at $228.45 on BTC-E, just $1.21 dollars higher. The total daily range was only $3 dollars and 22 cents. The chart below shows today’s boring trading session.


On OKCoin we had a similarly uneventful day. The daily range on this exchange was slightly bigger at $5.80, with a high at $232.80 and a low at $227. But ultimately BTC/USD ended close to where it opened, at $230.85 dollars per coin. Periods of low activity are usually followed by breakouts and trends. For some of the levels we’re watching as potential breakout points, take a look at this article.

The CEO of now defunct bitcoin exchange MtGox, Mark Karpeles, got charged with embezzlement of 321 million Yen ($2.67 mil USD). According to Japanese JijiPress, Karpeles is suspected of diverting customer funds for his own use. Some of the things bought with the money are software licenses and an expensive custom-build bed. According to another Japanese newspaper, the Yomiuri Shimbun, the ex-CEO is denying the charges but Mark was also quoted saying that he

Read more ... source: Bitcoin Warrior