Bitcoin rises from $14 to $40 in two months

There's an understanding that a few big players have a lot of the total amount of bitcoins in circulation. This price must be extremely tempting for them to sell at. That could cause a crash like last time. I would be careful of buying at the current price.

Re: Bitcoin rises from $14 to $40 in two months

#6

Post by Torn » Tue, Mar 05, 2013, 12:03 PM UTC

I wonder how much of this growth is driven by Silk Road - would be interesting to see some figure analysis if Silk Road makes any available

Re: Bitcoin rises from $14 to $40 in two months

#7

Post by fabiandesimone » Tue, Mar 05, 2013, 12:04 PM UTC

I've been following it since it was at $7 saying, this won't go up from $10. Then a bit more...a bit more. Now is in $40 and I'm kicking my head against the wall.

Surely this time, it won't go up again, right? ;)

Re: Bitcoin rises from $14 to $40 in two months

#8

Post by jerguismi » Tue, Mar 05, 2013, 12:07 PM UTC

Torn wrote: post #6

I wonder how much of this growth is driven by Silk Road - would be interesting to see some figure analysis if Silk Road makes any available

http://arxiv.org/abs/1207.7139

Based on this analysis, not much. But then again, the estimation methods in the paper are not very good IMHO.

Re: Bitcoin rises from $14 to $40 in two months

#9

Post by simondlr » Tue, Mar 05, 2013, 12:07 PM UTC

My speculations of the current growth:

1) Halving of supply. Block rewards halved end of 2012. 2) SatoshiDice continues to become more popular. 3) Big names supporting it: Reddit, Mega, Namecheap. 4) Along with the above that would bring about a general rise in prices, is the speculators that will try to game it.

My bet is there will be a correction again soon.

Re: Bitcoin rises from $14 to $40 in two months

#10

Post by tirant » Tue, Mar 05, 2013, 12:13 PM UTC

I expect a correction soon, as It happened last year. I wouldnt invest now any dollar.