Since Mt Cocks folded price is stable as hell, is this the new deal?
Nah.
Bitcoin is overpriced to most new money but current holders of Bitcoin aren't interested in selling.
Recent few days have consisted of near non-existent volume punctuated by huge intermittent whale splashes both to upside and to downside. If I never had so much trust in the integrity of the exchanges I would say that these splashes where simply exchange insiders squeezing leveraged traders out of their positions.
I'm afraid Mat is right. I get the feeling that we're on one of these things:
Just pushing as hard as we can to avoid a crash with the train that's on our tail.
The market is pretty stagnant and thousands of new Bitcoins enter this place every day. Without another big catalyst this year I think we will see 500s or lower before it gets better. Of course, it's not all bad. Overstock will announce before this fall that they accept Bitcoins for international shipments, Wikipedia may start accepting them, and there's a lot of good feelings coming from Google's various financial services.
