Quote from: fitty on May 15, 2013, 03:00:43 PM

Quote from: cilphex on May 15, 2013, 02:58:43 PM

This is the chart I've been waiting to see. To me, new highs aren't really that important, I mostly have been waiting to see the new bottom. It's provided us with this third critical data point for growth rate, which gives us a better idea of bitcoin's trajectory. I like what it shows.

Agreed. Looks like $100 is the new $50. Lots of buying pressure the closer it got to $100. Without the Gox drama (I hope people leave that exchange in droves), we'd probably be at $125-$130.

I really wonder how much support we are getting from Europe and China. Here in Germany when the news hit, the prices were unaffected in large part.
As we go more global, it is going to be interesting to see how we adapt and adjust to news. I am looking forward to more good news from China.
Remember, we have next to no float (11 million minus BTC's). Once the majority of those stop changing hands so often for the purposes of pure speculation, we will see another run to a market price.
Where that is we can only guess, but doing some simple math puts us in the 100's of dollars per BTC, and that is short term. Let's hope we continue to follow regulations fairly well and that VC money
keeps coming in. Even if we become a Western Union, pay pal replacement IN PART, we are talking a valuation over $500 per BTC. 11 million float for a global currency is like a bad joke, at least we
have those 8 decimal places. Grin