Bitcoins Have Surged 40% In Just The Last 48 Hours!
Mar 6, 2013, 21:19 IST
Yesterday we noted how the parabolic rise in Bitcoins lately looks a lot like the gold bull market on a chart.
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The virtual currency has taken a wild upward turn in just the last 48 hours.
On Monday, Bitcoins were trading around $35. Today, they're up to $49. That's a 40 percent advance.
The chart below shows the surge (click to enlarge):
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This is actually part of a larger surge in the currency since January. The three-month chart below shows that just two months ago, Bitcoins were trading below $15:
Nick Colas, Chief Market Strategist at ConvergEx Group, told us that the surge this week may be related to a key step the virtual currency just took toward going mainstream. Click here for details on our conversation with Colas >
(HT: @binarybits)