Bitcoin Supporters Should Be Really Happy By What's Been Happening To The Price
Apr 30, 2013, 15:25 IST
A few weeks ago, Bitcoin exploded to the $250 area. Then it promptly plunged to around $60.
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That prompted all kinds of "death of Bitcoin' talk, which may have been warranted, but premature.
Since then the price has rallied back, but more importantly, the price has gotten really boring.
Relative to a few weeks or a month ago, there's almost nothing of note to report on.
It's been in the ~120-140$ range, which of course for most assets would be a wide range, but for Bitcoin, is basically the same as not moving.
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If Bitcoin is going to become a currency that's actually used, rather than just a vehicle for speculation, a relatively stable price will be key. Bitcoin boosters should be psyched by the recent tranquility.
