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Bitcoin Trader is pleased to announce the launch of our Spanish and Italian webpages.

At Bitcoin Trader we believe that providing the best service to our clients and prospective clients is of the highest importance. It is of essence that the client understand everything he/she needs to know about our business and what we have to offer. Getting this information in one's native tongue will ease this process.

Currently a Portuguese version is in the make, that should be available within two weeks. We estimate that our Russian and German webpages will be online by the end of April.

Please note that due to the nature of our web app, currently only frontend pages can be translated.
 
    
    
The current state of Bitcoin
 
    

We've hit the lowest price so far in 2014; one Bitcoin is now worth about half its value compared to three months ago, as the market is still searching for a bottom. Many expect the bottom to be around USD 400 and the order books of some of the exchanges seems to confirm this prediction. Bitstamp alone has bids for 5000+ Bitcoins in the region of USD 400 ± USD 5 at the time of writing.

We must also consider that the current market is highly manipulated by a very few high volume traders who are taking full advantage of the current situation. I can't blame them, it's part of cryptos in general, but I would like to have a bit more stability in the market. In addition the few exchanges we have are acting sometimes kinda surreal. I give you an example, by quoting a recent comment I read on Coindesk:

"These exchanges make no sense to me. Buy .25 bitcoin, price goes up $.75. Buy 12 bitcoin and price goes up $.05. Makes no sense to me."

I totally agree with this guy - he is right. I have observed such bizarre market movements many times, despite any indication why it is moving this way or that way, i.e. low or high trade volumes at the time of the trade etc.

Bitcoin is still creating massive controversy in the media. Often about its risks, dangers, and dubious mainstream appeal. On the other side we have good news as well, plenty of good news to be frank: More and more large retailers are accepting Bitcoin for purchases. In The Hague [Netherlands] a joint initiative of restaurants and pubs led to the 'Bitcoin Boulevard' a street where all joints in the street are accepting Bitcoin. Almost every day somewhere a Bitcoin ATM is going into service. The IRS "property" classification for Bitcoin reaffirms it's status as digital gold. To name just a few examples.

No doubt, Bitcoin is becoming mainstream and I am bold enough to argue that the current Bitcoin price is undervalued - if not a joke!
 
    
    
Trading update
 
    

While trading went well for most of March, we had the first loss day in over three months last week. The reason was very slim spreads among all exchanges during Bitcoins 'free fall' and thus existing opportunities expired before our trades concluded.

The chart below taken from Coindesk, our official Bitcoin Price Index source, is illustrating how close the exchanges are currently.



The spreads between the exchanges remain very slim since, but we are confident that we can still deliver around 20% earnings per month, even if the situation remains unchanged.
 
    
    
Mining update
 
    

While price hikes and drops are good for arbitrage trading, mining with the ever increasing difficulty needs a stable and gradually increasing Bitcoin price.

Unfortunately Bitcoin lacks any fundamentals that anchor the Bitcoin price, as there are for most assets, despite the high costs of mining equipment and the recurring costs of electricity. Anchors that are factored in the prices of natural resources like oil, gas, gold or diamonds for example.

As from tomorrow the hashing rate per share will be increased to 10 GH/s per share. We remain confident that our mining shares will remain profitable in the months to come.
 
    
    
Join our Social Network
 
    

Bitcoin Trader has a social networking presence on Facebook, Twitter and Google+. Our official pages keeps you updated with daily results, news and important announcements.

We recommend to all our clients to join at least one of our online communities to keep yourself informed and updated about our services.

Thanks for reading and our warmest regards,
John Carley
 
 
 
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