Good or bad news for Bitcoin?
You tell me:
After hitting bottom at $1.994 in November , however, Bitcoin simply refused to die. The price bounced back to a high of $7.22 in January 2012 before settling down at $4.90, and news slowly began to once again turn positive…
The Bitcoin price has just broken the all-time high of $31.9099 that it set on June 9, 2011 on MtGox. After a persistent, one-and-a-half month rally from $13 to $28, followed by nearly two weeks of bumping up against $30 and then hovering around the $28-$31.5 range, the bulls have finally won…
With apologies to Scott Sumner, I say Bitcoin is a bubble. Outside of war and rebellion, do “normal” new currencies behave this way?
The full story is here. For the pointer I thank Mark Thorson.
Addendum: Scott Sumner comments.