11 Nov '13, 3pm

Don't Expect Bitcoin to Die Off Anytime Soon - Fox Business #bitcoin

It’s only been a month since authorities took down Silk Road and a week since Liberty Reserve pleaded guilty to money laundering, but bitcoin’s recent rally signals one thing for certain: the digital currency has no intention of dying out anytime soon. The very volatile bitcoin traded at fresh highs last week, closing on Friday at an all-time high of $349.99, according to Mt. Gox, the world’s largest bitcoin exchange. “I continue to think bitcoin is the most fascinating finance story of 2013 and I think it will continue that way through 2014,” said Nick Colas, chief market strategist at ConvergEx. From fighting off regulatory scrutiny, to being used as a conduit for crimes like illicit gun and drug sales and money laundering, bitcoin has racked up its share of black eyes this year. Yet, it nevertheless continues to attract interest from investors. The market is now valued ...

Full article: http://www.foxbusiness.com/technology/2013/11/11/as-bitco...

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