A lot can happen in nine months.
A lot can happen in nine hours even.
$7.20 is a 48% rise from the current level. If history were to ever repeat itself, that size of rise happening in a day or two has occurred mutliple times in Bitcoin's history.
The jump Jan 4th-5th was like that:
- http://bitcoincharts.com/charts/mtgoxUSD#rg180zigDailyzczsg2012-1-01zeg2012-1-08ztgSzm1g10zm2g25
Or the jump on May 11, 2011:
- http://bitcoincharts.com/charts/mtgoxUSD#rg180zczsg2011-05-11zeg2011-05-11ztgSzm1g10zm2g25
Though to be fair, that size of drop happening in a day or two has occurred even more often.
The Mt. Gox order book currently sits at $1,004,293 to buy all the ask orders through $7.20 (which would acquire 177,076 BTC) according to BTCCharts.com. Thats not a particularly large amount should there be a crowd or even a single entity wanting in quickly.
I know that percentage wise there have been rises of that magnatude, however I don't think those price increases occurred through the same ask volume density. There are a lot more bitcoins up for sale closer to the current trading price than in the past when the price shot up above $10, $20, and $30.
