Bitcoin prices shot up to $30 from $10 over a few days recently, from being under $1 just a couple months ago. And then, not surprisingly, have dropped down to $13 right now, and look like they may have a lot farther to fall. Like all parabolic rises, the trip down is always much harder and faster than the trip up.
The question whether bitcoin prices will stabilize is still unanswered. Bitcoins are incredibly cool and useful, but it appears now that the speculative frenzy may be coming to an end, at least for the time being. Media interest in Bitcoins spread like fire in the last few weeks, as predicted, and Bitcoin prices correspondingly went even more parabolic then they had been rising. Is there a price floor? When will buyers re-enter the Bitcoin market?
In the time it took me to write the last two paragraphs, Bitcoins dropped from $13 to $12, so it doesn't look like it's anytime soon...
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