Everyone's talking about Bitcoin today, and there's been a neat correlation between the chatter over the past few years and the cryptocurrency's price:
Price in USD
(Source: Bitcoin Charts)
It seems like it's a bubble fuelled by media interest. People are looking to gamble on what looks like it could be a good thing, and talk of shifting fundamentals (such as the recent Cypriot crisis) don't really explain this sort of a rise. Interest in the currency didn't peak as much when times for the Eurozone looked even darker, nor did values. What you can buy with Bitcoin hasn't really changed either (unless markets in narcotics are your thing).
So why all this obsession with a bubble in a very small market? Maybe we're all just bored and waiting for the real markets to get more interesting again. At least when this bubble bursts less people will suffer.
Who needs the eurozone crisis when there's Bitcoin?— Chris Adams (@chrisadamsmkts) April 3, 2013