The Most Important Bitcoin Developments This Week: February 8, 2015

NEW YORK (InsideBitcoins) – Despite swings of 12% during the week, the price of bitcoin ended off just 2% for the week ending February 6 – closing Friday at $223.53, according to the Windex composite. That’s pretty much were the cryptocurrency has remained throughout the weekend, hovering in the $220s as of late Sunday morning in New York, according to the Inside Bitcoins Price Tracker.
The bitcoin price has lost about -30% for the year-to-date, according to the averageBTC index produced by bigterminal.com.
Other important developments for the week included:
n deliberation that only took 3 hours, the jury convicted 30-year-old Ross Ulbricht of running Silk Road as Dread Pirate Roberts. The jury found Ulbricht guilty on all seven felony charges: drug trafficking, computer hacking, running a criminal enterprise, money laundering, and fraud with identification documents. These seven felonies could carry a sentence of a minimum of 20 years and up to life in prison.

This post was published at Inside Bitcoins on Feb 8, 2015.