Something Is Definitely Happening In The Bitcoin WorldFebruary 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?