Bitcoin still soaring

Updating my previous post, the Bitcoin value  continues to soar and had reached about $240 today. The Bitcoin hoard of 21 million is now worth about $5 billion.

Three months ago the value of a Bitcoin was less than $10. Simple arithmetic tells us that around an additional $4.8 billion has come into this market and  is now locked up as Bitcoins. Some of this enhanced value may be due to intentional circular trading but if that is the case this bubble will burst and some will make a killing and others are going to take a big hit. Anybody who has entered recently without a well thought out exit strategy is taking a big risk.

Last price:$235.70000, 

High:$240.11100, Low:$180.00000, 

Volume:108657 BTC 

bitcoin value 9th april 2013 in USD

bitcoin value 9th april 2013 in USD

Bitcoin value in US Dollars

Bitcoin value in US Dollars last 6 months to 7th April

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3 Responses to “Bitcoin still soaring”

  1. Robert Nielsen Says:

    However it looks like the bubble is bursting. Bitcoins have dropped from a high of $266 to a low of $183 in a matter of hours.

    • ktwop Says:

      As fast down today as it went up yesterday and about the same volume (c. 100K). Some hot money could have made some $6 million (100K x $60)

  2. Wild ride for the Bitcoin as its value crashes | The k2p blog Says:

    […] wonder whether the real reasons for the Bitcoin gyrations ( see previous posts here and here) will ever be fully known. From $ to about $240 and now back to […]

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