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Bitcoin spikes 70% in a month; nobody knows why

• throwastone 11y ago
  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.
• nikolay 11y ago
  And that's why trading needs fees, otherwise craziness follows.
  • arsenide 11y ago
    I can find my friend and give him $5. There "needs" to be a fee attached to this?
• ac29 11y ago
  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 https://news.ycombinator.com/item?id=10497141 [1] http://www.bloomberg.com/news/articles/2015-11-02/bitcoin-is-suddenly-surging-again http://www.bloomberg.com/news/articles/2015-11-02/bitcoin-is... [2] http://www.dailytradingprofits.com/5063/is-bitcoin-being-pumped-by-a-ponzi-scheme/ http://www.dailytradingprofits.com/5063/is-bitcoin-being-pum...