Market Update 5 Oct 2012 – Bitcoin, Coffee and Crude

Market Update 5 Oct 2012 – Bitcoin, Coffee and Crude: Currencies were weak this week, with the EUR treading wate...

Currencies were weak this week, with the EUR treading water up 0.1%, while the USD and CAD fell 0.4% and 0.6% respectively. The weakest of the bunch was the JPY, down 1.5%. This week I am starting to include coverage of Bitcoin (BTC). As you can see from the chart below, bitcoin has had a meteoric rise over during the last two years since its introduction, though this has been punctuated by sharp declines. This volatility is caused by the currency's youth: it is being adopted by thousands of new users each week, and this a rising demand is pushing its value up. But any time there is a rumor of a theft or concern about a government crackdown, the value can tumble sharply. This week, BTC is the only currency to show much strength, and over the last month, and the last year, it outshines all other investment categories. Worth keeping an eye on! Learn more at

Full article: http://pricedingold.com/2012/10/10/market-update-5-oct-20...