ANALYSIS: Bitcoin hit with body blow

Bitcoin may have staggered in recent days but it is far too early to say it is set for a fall, writes Philip Connolly.

26th February, 2014
Reports earlier in the week that hackers may have pilfered more than $390 million in bitcoin from MtGox has shaken investor confidence.

It is rare that a week goes by without bitcoin making headline news, but after it finally seem to gain some traction in mainstream finance the crypto-currency’s credibility took a body blow yesterday. But while the currency may have staggered, it is far too early to say it is set for a fall.

MtGox, once among the largest bitcoin exchanges in the world, has disappeared from the internet taking millions of dollars in...

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