It’s hard to believe that in the last 24 hours alone, the price of bitcoin has risen from a low of $397 (at Bitstamp) to a high of $475.
That’s over 12 percent increase today alone. Pretty incredible if you as me.
As you’re already aware, I’m not a fan of speculation, so I won’t even try and attempt to make up explanations for this rise. I simply do not know with certainty.
What I do know is that the price was down for a few days for a number of reasons, chief of which includes the ever-confusing bitcoin landscape in China. Is it banned? Is it not? Does it even matter?
Also, Neo & Bee, a once-shining beacon of what a bitcoin business could be turned out to be, well, nothing. The boss is missing, too, and the police are after him.
If you’re looking for a price example of bitcoin’s volatility, this is it (I could think up a number of other examples, too, as I’m sure you can. Remember last year?).
I don’t think anyone’s complaining with the direction it’s moving in, though.
Sound off: what do you attribute the price climb to?
