Bitcoin spikes 70% in a month; nobody knows why

Posted by tmlee on Tuesday November 03, 2015 @10:12PM
from the cnbc.com dept.

http://www.cnbc.com/2015/11/03/bitcoins-price-jumps-more-than-70-in-one-month.html

( 4 comments | 23 points | on HN )

Re:Bitcoin spikes 70% in a month; nobody knows why by throwastone on Tuesday November 03, 2015 @11:21PM (#10504578)

Looks like algos picked up on log scale trendline break (Oct 25th-27th or so) from long term consolidation, thus the acceleration in the past 30 days. Buyers pile in. Price goes up.

[ Parent | on HN ]

Re:Bitcoin spikes 70% in a month; nobody knows why by ac29 on Wednesday November 04, 2015 @02:10AM (#10505037)

Yesterday, there was speculation it was due to China [1], increased legitimacy [1], or a ponzi scheme [2].

A few comments here: https://news.ycombinator.com/item?id=10497141

[1] http://www.bloomberg.com/news/articles/2015-11-02/bitcoin-is...

[2] http://www.dailytradingprofits.com/5063/is-bitcoin-being-pum...

[ Parent | on HN ]

Re:Bitcoin spikes 70% in a month; nobody knows why by nikolay on Wednesday November 04, 2015 @12:57AM (#10504860)

And that's why trading needs fees, otherwise craziness follows.

[ Parent | on HN ]

Re:Bitcoin spikes 70% in a month; nobody knows why by arsenide on Wednesday November 04, 2015 @04:16AM (#10505384)

I can find my friend and give him $5. There "needs" to be a fee attached to this?

[ Parent | on HN ]