Monday, December 30, 2013

Bitcoin Price Progress

The the price of Bitcoin on the common exchanges has shown exceptional resilience over the last 10 days. Here is a chart showing the price on Bitstamp in US dollars.
This chart is licensed under a  Creative Commons Attribution-ShareAlike 3.0 Unported License.

There were negative news items from China and India which negatively impacted the prices, however, the upward trend continues. The fact is that Bitcoin trading has not been banned in China or India. Governments are nervous about the use of Bitcoin as currency especially concerning their loss of control of their monetary policy and have issued restrictive regulations. Despite this, the Chinese and Indians continue to invest and purchase Bitcoins. It looks like we will end the year with Bitcoins trading at a little less than $800.

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