Re:Google Trend for "Buy Bitcoin" over last 90 days
by waterlesscloud on Thursday November 21, 2013 @03:27AM
(#6773642)
CampBX also transfers funds in and out via ACH, as well as money orders and domestic wires.
They're also a direct exchange, and if they started to run low on coins (thus driving the price higher), someone would happily provide more coins via arbitrage from elsewhere.
I'm gonna assume you're outside of the US; the difficulty and expense of sending an international wire from a US bank is rarely grasped by people outside of the US. My bank charges $40 for a wire transfer in US dollars, and more for one in the destination currency. My first BTC purchase was only ~$300...the wire transfer would have been more than 10% of that.
I agree that Coinbase running out of coins would have had an impact. But, I noticed that they were replenishing them relatively quickly...I tried to make a buy one evening, was told the daily coin limit had been reached, and an hour later was able to buy, and bought a little more the next morning.
I suspect they were sitting at their computers all night during the run up to $1000, trying to manage fraud while also trying to buy and sell as many BTC as possible.
Anyway, I'd be surprised if there's another big spike...but, a gradual climb back up to $1k and beyond does seem entirely realistic to me.