06 Mar '13, 3pm

Bitcoin buzz reaching new heights (it's the talk of tech community)

Yesterday we noted how the parabolic rise in Bitcoins lately looks a lot like the gold bull market on a chart. The virtual currency has taken a wild upward turn in just the last 48 hours. On Monday, Bitcoins were trading around $35. Today, they're up to $49. That's a 40 percent advance. The chart below shows the surge (click to enlarge): bitcoincharts.com This is actually part of a larger surge in the currency since January. The three-month chart below shows that just two months ago, Bitcoins were trading below $15: bitcoincharts.com Nick Colas, Chief Market Strategist at ConvergEx Group, told us that the surge this week may be related to a key step the virtual currency just took toward going mainstream. Click here for details on our conversation with Colas >

Full article: http://www.businessinsider.com/bitcoins-surged-40-in-48-h...

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