05 Nov '13, 8pm

When will the people who called Bitcoin a bubble admit they were wrong?

When will the people who called Bitcoin a bubble admit they were wrong?

Bitcoin prices on the Bitstamp exchange. (Bitcoincharts.com ) The word "bubble" comes up a lot in discussion of Bitcoin. Bubble talk last peaked in April of this year, when the value of one Bitcoin soared from less than $100 at the start of the month to an all-time high of $266 on April 10. And in the next few weeks, it appeared that the skeptics had been vindicated. Bitcoin prices tumbled, falling to a low of about $50 before stabilizing back around $100. Bitcoin critics argued that the Bitcoin-buying public had fallen prey to irrational exuberance, and that one unit of the crypto-currency couldn't possibly be worth $266 . But then something interesting happened. After a few months of relative stability, Bitcoin prices began rising sharply again. Since the start of October, Bitcoin prices have doubled from $125 to $250. That's just shy of the all-time high of $266. That p...

Full article: http://www.washingtonpost.com/blogs/the-switch/wp/2013/11...

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The Bitcoin Bubble

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