Something Is Definitely Happening In The Bitcoin World

February 20, 2013 12:48 pm

The whole Bitcoin economy is just around 275 million dollars, so it must be easy to tie back huge price movements to news or events. Price discovery works very differently when small volumes are involved. We had tracked the rise of Bitcoin very closely this time – We had said that Bitcoin is back – and were sure that something is happening in the bitcoin world – and also that it is trading dangerously close to its all-time high (now,even higher).

Something is definitely happening in the Bitcoin world – here is the all-time chart for Bitcoin –

The volume spikes have all had corresponding ‘events’ and significant price movements – we do have a volume spike now – but no news ! Or, is Amazon just buying out the Bitcoin economy?

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3 Comments for “Something Is Definitely Happening In The Bitcoin World”

  1. sep332

    Um you didn’t hear about the ASICs? The first Bitcoin ASICs have shipped. Here’s the chart of the entire Bitcoin Guild’s computing power: https://www.btcguild.com/pool_chart.php Notice anything? haha

  2. julz

    ASICs might be one component – another would be the acknowledgement by Kim Dotcom of Bitcoin (via the Mega reseller – bitvoucher). Also there has just been steady growth in Bitcoin users and merchants.

  3. Ashley Tremonte

    No news? That is a glaring inaccuracy and you should fix it. Recent news –
    ===Kim Dotcom announced Mega receiving in BTC
    ===The Internet Archive announced taking donations & paying employees in BTC
    Most importantly,
    ===REDDIT, A TOP 100 SITE, started accepting BTC for Reddit Gold.
    News like this reaches a lot of people and the “fiat exchange delay” means in the weeks and months following the releases there will be a steady influx of users investing more and more.
    Oh yeah, and
    ===ASICS shipped, although mining is only a small % of supply.
    Plenty of news. Just look harder next time ;-)

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