28 Dec '16, 8pm

via @qz

via @qz

It’s déjà vu for bitcoin believers. Three years ago, in the dying months of 2013, the cryptocurrency took off on a historic bull run that would push its price to an all-time high of nearly $1,200 . Bitcoin is approaching those highs again now, hitting $968 in trading today. Take a look at this chart: The 2013 rally came to a crashing halt: Bitcoin was trading for as low as $340 six months later. Today’s rally could end the same way, but there are important differences that suggest it might not. Here they are: The biggest bitcoin exchange isn’t a giant, unsecure, fraud—as far as anyone knows, anyway Part of the reason why the bitcoin price soared during the 2013-14 rally was because the biggest bitcoin exchange at the time, Mt. Gox, was slowly imploding —but no one knew it yet. Among the many problems later discovered with the exchange, there’s suspicion that prices and vol...

Full article: http://qz.com/873828/bitcoins-nearing-its-all-time-high-a...

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via @qz

via @qz

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