At the time of writing this article, the price of bitcoin really hasn’t changed since yesterday. The current price is $236, and while many of us have been expecting another sudden rise, such a thing has yet to come.
Yesterday witnessed a $2 rise in the price following a heavy drop of about $10, but now it appears that bitcoin has suddenly gotten comfortable where it is. Why is that? Is 236 a cushiony number? Is it soft and snug and is bitcoin comfortable resting on its plush? Who knows, but now another scenario has entered our midst, and it seems that bitcoin might possibly stay where it is for the time being.
The last few weeks have gotten many of us excited; we witnessed steady increases in bitcoin, and we wondered if it was finally on the path towards recovery from where it had been in January. Small and sporadic drops occasionally accompanied the rise as time went on, but it was nothing serious. For all we know, a handsome rise in the price will be witnessed within the next week and we’re speaking or thinking too soon, but considering it has now been about three days in a row, a slower rise seems more likely to be in bitcoin’s distant future (if, in fact, there is any sudden rise at all).
Of course, we still have the third US Marshals bitcoin auction to look forward to. Anybody wanting to get their hands on the latest stash of bitcoins once held by alleged drug kingpin and Silk Road mastermind Ross Ulbricht will get their chance next week, and this may still have an influence on the price, but it’s unknown how much of an influence the auction will really have until it occurs. Until then, let’s hope that bitcoin is taking a short rest on the large ladder it’s been attempting to climb for the past few months. Eventually, the currency has got to get its energy up enough to trek the remaining steps.
