Monday, November 18, 2013

Another BTC bubble?

Bitcoin just quoted on Preev.com at $510.20. I'm beating the rush and calling it a bubble. I'm a market participant but a very inconsequential one. My entire bitcoin stash is worth slightly more than $20 at this point.

China has apparently discovered bitcoins and trading volumes are exploding from a very low level only two months ago. That's fine as I don't have anything priced in BTC but it's likely to be a very wild ride until the coin finds a new stable level.