Bitcoin Price Increases Amid Waning Negative Hype

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Bitcoin has jumped up by about $7.  Yesterday, it was hovering near the $233 range after it dropped from about $245.  The digital currency had experienced a healthy surge during the recent week, but was undoubtedly wounded by the hacking attacks and other malicious activity that occurred over the weekend.

Now it’s likely that some of that angry, negative hype is dying down.  The media had gotten their hands on these stories and reported them to death, and now enough time has gone by for people to marginally forget about what’s happened.  Furthermore, those affected by the cyberattacks are now working with authorities and police officials and taking preemptive measures to make sure that what occurred doesn’t occur again…

My personal prediction is that bitcoin will likely stay where it is now for some time.  Sure, the “impure talk” regarding bitcoin has dissipated somewhat over the past few days, but I can almost guarantee that it’s not completely out of the wind.  No, things like this don’t just disappear overnight, and while media outlets and similar entities aren’t reporting on these things anymore, that doesn’t mean the issues have completely gone away.  There are still security problems that need to be dealt with.  There is still resistance to development that needs to be overcome, and all the while bitcoin’s price is right in the middle, ready to jump or drop depending on factors such as these.

But even if bitcoin price were to stay where it is now for a while, that wouldn’t necessarily be terrible.  $240 is certainly better than what we witnessed a few weeks ago, and now that the price is up a bit, no doubt there’s more room to play and trade.  When bitcoin grows, we’re given the opportunity to grow with it.