19 Dec '13, 5pm

Bitcoin

Bitcoin

It’s been practically impossible to follow the financial news in recent months without coming across almost daily articles about Bitcoin and all of its wild gyrations, as well as opinions for and against it. This is no surprise considering the fact that the virtual currency sextupled in the past two months alone, while rising ninety-fold in the last year – at least until its recent plunge that caused prices to fall by nearly half. Many people have been debating whether Bitcoin was experiencing a speculative bubble or not, including myself . Though I am a fan of virtual currencies in the longer-run as a means of hedging against incessant debasement of fiat or “paper” currencies, I’ve been saying that their parabolic surge reminded me too much of silver’s bubble in late-2010 and early-2011. In both cases, the initial surges were driven by well-meaning amateur economists and ...

Full article: http://www.forbes.com/sites/jessecolombo/2013/12/19/bitco...

Comments

  1. 19 Feb '14, 8am

    Probably it’s just a temporary flux due to Mt.Gox’s issue and other factors that affected its value. However, we should still be aware of what causes this speculative bubble. Better to watch bitcoin activity than makes prediction about it. Stay up to date with Bitcoindaily.com for daily bitcoin news.

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