Comment: News of BitCoin's demise has been greatly exaggerated...

(See in situ)

News of BitCoin's demise has been greatly exaggerated...

H/T: "Persona"

Bitcoin Climbs To Highest Since April, Led By Chinese Actions

Submitted by Tyler Durden on 10/19/2013 20:29 -0400

Submitted by Jonathan Stacke via The Genesis Block,

The last week has seen dramatic upwards price action in the bitcoin markets, driven by a series of macro and micro events across the globe. The fallout from Silk Road’s closure turned out to be but a blip in bitcoin’s price history, with significant gains since then. Turmoil in global financial markets and recent news of leading global websites accepting bitcoin may have bolstered enthusiasm for digital currency, but most interesting may be CNY’s definitive recent price leadership.

Compared with prices before the brief Silk Road drop, bitcoin exchange rates have climbed 14% in the last two weeks. At $145/BTC on Bitstamp, bitcoin has reached a level not seen since late April, and the only time that level has been reached on more than three consecutive days was from April 3-11 during the bubble.

Notably, the market has been significantly less volatile leading up to this level recently, compared with April. The 3DMA volatility leading into this level previously was between 13% and 22%, compared with just 4% currently.

Five Reasons For Bitcoin's Most Recent Price Surge
Kashmir Hill, Forbes Staff
10/23/2013 @ 3:07PM |17,633 views

Bitcoin breaks $200 again.

The price of Bitcoin is climbing as fast as Sandra Bullock’s post-Gravity reputation. It’s up to $200 – $219 USD on major Bitcoin exchanges, hitting highs it hasn’t seen since the spring. What’s driving the price up? I spoke with a few experts and analysts in the field for their takes. Here are five possible reasons for the fall frenzy:

1. Bitcoin is so hot in China right now.
2. Bitcoin survived Silk Road’s fall.
3. Everyone’s talking about Bitcoin because of Silk Road’s fall.
4. Silk Road’s seizure just took a bunch of Bitcoins off the table.
5. Bitcoin is being touted as the next Twitter/Facebook /LinkedIn investment possibility.

Thank God, corporatist govt terrorists are always the last to learn about the Streisand Effect, eh?

Predictions in due Time...

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul