Bitcoin Price Jumps 21% Over 4 Days, Reaching a 21-Month High (techcrunch.com)

An anonymous reader shares a TechCrunch report: Bitcoin is back! Or at least, there are positive signs indicating that bitcoin might not be as dead as everybody thought. Bitcoins are now trading at $547.40 on Bitfinex (the largest USD/bitcoin exchange according to Bitcoinity). And it represents a big 21.4 percent price jump over just four days. Today's price represents a 21-month high. Surprisingly, bitcoin prices had been relatively stable for the last two months before this weekend's jump. What's the reason behind this jump? It's hard to say. Huobi and OKCoin, the two dominant Chinese exchanges, have seen many new sign-ups, as well as many buy orders. Increasingly, bitcoin's price variations are correlated with macroeconomic trends in China. These trends tell us that China still fears a deflation.

Comments

A 21% jump should worry people

[mhkohne]

Volatile currencies are only good for people who trade currency. People who are trying to get things done want a nice stable currency so they don't have to play day-trader on the side while running their business.

Re:A 21% jump should worry people

[angel'o'sphere]

Hu?

You don't grasp the concept of Bitcoin.

If I sell on my website a car for 1.5 Bitcoins, you only need to consider what Bitcoins cost right now, decide if it is worth it. If so, buy the 1.5 Bitcoins and then conduct the transaction.

Tomorrow the same car might cost 1.4 or 1.6 Bitcoins. Proceed as above, no risk involved for you.