This is quite scary. Let's analyze the facts:
I think this rally needs to be supported by REAL news that improve the fundamentals, otherwise it will be just a trap before a slow decline.
IMHO, the best news would be a new company offering unlimited amounts of BTC for cash immediately - buying your first BTC is still slow and painful, and the first one changing that fact will really boost BTC.
The google thing isn't all that surprising. People saw the price drop and lost their excitement. It'll come back eventually and many will have missed the train.- the interest in bitcoin is fading out after the crash, just check the google trend: https://www.google.com/trends/explore#q=bitcoin&date=today%203-m&cmpt=q
- there's still a lot of money at Gox, a lot of fresh money was delayed because of their epic queue, but you can bet that from now on the flow of fresh money will be slower (just check the google trend)
I think this rally needs to be supported by REAL news that improve the fundamentals, otherwise it will be just a trap before a slow decline.
IMHO, the best news would be a new company offering unlimited amounts of BTC for cash immediately - buying your first BTC is still slow and painful, and the first one changing that fact will really boost BTC.
Well, people loosing their excitement is a fact; people coming back massively after a "cool down" and a growth in fundamentals (more bitcoin businesses, etc.) is also very probable.
But this does not invalidate the fact that this short term rally seems unsustainable and a trap. Investors who were delayed by the queue at Gox and got their money in after the crash (we are speaking about MILLIONS of $ and many thousands of individuals) are not going to be in the mood for "buy and hold" like at the beginning of the bubble.
Again, the market is so illiquid that a big dump can take us all the way back to $50ish in the blink of an eye. And I don't see the enthusiasm to prevent that from happening.
