Bitcoins rise from $3 to $7 in the last month, are we looking at a zombie currency in the coming week?
Bitcoins seem to be slowly rising from their doledrums. In the last 30 days the price of bitcoins have rising, from nearly crashing below $3 before slowly and steadily rising, just touching above $7 today. What’s going on, what’s driving this increase and what’s going on in the next week for bitcoins?
I have 3 theories myself:
1) People cashing out bitcoins after starting up school again. No time to devote to mining anymore, cash out and spend the cash on books and supplies. The price rise is normal buy-back from people still in the game.
2) Cashing out bitcoins for holiday spending. The end of the year cash crunch means that many people could be selling their bitcoins to buy Christmas presents. Price tanked around October though, which seems too early for that. Price increase was people buying back their coins.
3) Bitcoin is just being the volatile cunt it always is and who know why the fuck the price tanked.