I wonder whether the real reasons for the Bitcoin gyrations ( see previous posts here and here) will ever be fully known. From $9 to about $240 and now back to $69!
But this kind of behaviour does not manifest itself without someone, somewhere pulling some strings. I am inclined to think that some very “hot” money was involved in the boom and that it has “moved on” to create the bust – but has almost certainly not moved back to where it started from.
bitcoin turbulence april 2013 (Mt. Gox)
There is some discussion that this has been a concerted effort from within the world-wide-web to manipulate the price but I think the coincidences with the goings-on in Cyprus are connected. And that probably means the movement of Russian money.
Tags: Bitcoin, Business, Cyprus, Electronic money
The k2p blog 