Slashdot Mirror
Bitcoin Surges 10% To All-Time High Above $2,700, Has Now Doubled in May (cnbc.com)
An anonymous reader writes: In another intraday jump of more than $200, bitcoin surged to a record Thursday on strong Asian demand overnight. Bitcoin jumped more than 10 percent to an all-time high of $2,752.07, more than twice its April 30 price of $1,347.96 according to CoinDesk. The digital currency last traded near $2,726. At Thursday's record, Bitcoin has now gained more than 45 percent since last Thursday and more than 180 percent for the year so far. "There is no question that we are in the middle of a price frenzy," said Brian Kelly of BKCM, in a note to clients Thursday. "There will be a correction and it could be severe, but it's unclear if that correction will start from current prices of $2700 or from some place much higher."
Idiot. Go to a major exchange. Watch the real time trades appear. Add up how long it takes for the sold volume to hit 500 bitcoins. The answer is minutes. What does the price do? Absolutely fuck all. You could cash out $1 million in minutes.
No. Not yet. BTC volume is low compared to the equity trading. BTC volume is generally in the range of 50K - 200K BTC / day. And spiking much higher the last few few days
Last 24 hour trading was over 940k BTC or 2.5Billion USD https://coinmarketcap.com/curr...