Bitcoin’s latest price climb has garnered quite a bit of attention, breaking all time highs and leading many to declarations of a bubble. While the price and resultant media storm have been enjoyable to watch (particularly for bitcoin holders), the markets have also offered a number of more nuanced dynamics worth noting.
The BTC / USD rate remains more than twice what it was just one month ago after a series of dramatic climbs beginning in mid-October. This weekend in particular saw quite a bit of notable activity as BTC / USD fell 26% from $360 to $260 in just eight hours before recovering to $335 most recently. Though there are significant underlying fundamental differences behind the bitcoin economy now relative to similarly dramatic gains in the past, a number of market signals are worth noting. Market Momentum Though bitcoin has climbed more than 2,200% in 2013 alone, a series of significant drops have occurred along the way. Timing the exact peak of a price climb can be difficult, but…
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