Bitcoin prices at troubled exchange MtGox spiked over 150% to reach a high of $290 today. The basis for the rally was a rumor posted on Reddit that the company has started processing bitcoin withdrawals again. User that goes by the nickname ‘’bcn00b’’ posted his analysis of some blockchain transactions that may indicate that the exchange is in the process of testing bitcoin withdrawals. While most agreed with the assessment that there is movement of bitcoins out of MtGox, some speculated that the reason for this may be ‘’insider selling’’ before the announcement of more bad news. The general consensus, as indicated by the market, is that this is good news for the firm and may lead to the eventual restart of btc withdrawals.
- See more at: http://www.forexnews.com/blog/2014/02/22/bitcoin-spikes-150-mtgox-withdrawal-rumors/#sthash.Fky45tB2.dpuf