13 Nov '13, 3pm

Bitcoin heads towards $400 as market shrugs off latest incidents

Bitcoin heads towards $400 as market shrugs off latest incidents

In the last week alone, the Bitcoin world has been bedeviled by a major theft , a bankruptcy tied to a member of the Bitcoin Foundation as well as a $4 million scam that suckered 1,000 Chinese investors. How has the market reacted? By taking off like never before. On Friday, the virtual currency blew through $300 for the first time and now it looks set to smash the $400 mark. Here’s two screenshots. The first shows Bitcoin rates in US dollars at various exchanges, and the second shows the currency’s trajectory over the last three months on the Bitstamp exchange (Mt. Gox is already over $400 but trades there come with a premium due to liquidity worries ): So what does all this mean? It’s hard to say. Even by the roller-coaster standards of Bitcoin speculation, this type of jump is unprecedented. The currency’s rise despite the series of negative news items shows that, more ...

Full article: http://gigaom.com/2013/11/13/bitcoin-heads-to-400-as-mark...

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Bitcoin Hits $400 For The First Time Ever

Bitcoin Hits $400 For The First Time Ever

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Sell:

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