The banking crisis in Cypress caused it to go up April 2013
Yes, I read the news about bitcoin first huge pump to 32 usd due to Cyprus' crisis, and I panic bought the coin during the first huge pump to 260 usd.
Topic: What was the main reason for Bitcoin to rise at 100$ year 2013? (Read 611 times)
Yes, I read the news about bitcoin first huge pump to 32 usd due to Cyprus' crisis, and I panic bought the coin during the first huge pump to 260 usd.
That was around the time venture capital was pouring into bitcoin and bitcoin companies - the Winklevosses and BitInstant for example, et al, and all the buzz and news publicity - both good and bad - that came with it all.
The main reason for bitcoin to rise at 100$ and more that year is not just because of demand and many investors getting bitcoin but it is because it is being manipulated though that manipulation ended up having good effect with bitcoin that made people trust bitcoin more. Also, One of the undeniable reason for the pump at 2013 is that it is a new concept of payment introduced to many but it is just a factor that mqde bitcoin pump to 100$ that time.
The banking crisis in Cypress caused it to go up April 2013
Yup, it's like the recent spike from the Greek and Indian buy in. But the previous spike to $12 also brought in a lot more users to push the price higher.
The banking crisis in Cypress caused it to go up April 2013
This was great opportunity and people were aware if you are not first you don't get big share, correlation can be found in history of gold rush. I think technological breakthrough is last on the list, as reason for such rise.
Without speculation, do anyone knows?
Do you know the reason why it hit $1000 this year?I think the reason is more or less same.Bitcoin is a volatile and just one good positive thing trigger its price up and one negative and price crashed like nothing.
This piece of article from businessinsider sums up the bitcoin rise in 2013 very well.
" Interest and buzz is absolutely
exploding, as people see a
combination of a surging
market, an alternative to
traditional currency, and a fun
speculation."
Some say that it was the Willybot.
That was attributed to the 2014 spike, not 2013's. Zero evidence was ever presented for in-house Gox trading bots, just people mindlessly repeating it.
Some say it was many investors getting in at that time.
Some say that it was the Willybot.
Some say that it was the Willybot.
don't forget the price hit 32 dollars a couple of years before. that's a long time for more people to come on board.
delayed reaction to the reward halving + ASIC's hitting the market.. (mainly it was the ASICS event)
Silkroad did big impact.
delayed reaction to the reward halving + ASIC's hitting the market.. (mainly it was the ASICS event)
Without speculation, do anyone knows?
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