Bitcoin Forum

So I have been around in the bitcoin scene since the beginning of this year around Jan/Feb right before the jump up to 269ish before the bubble.

I have kept my close on on bitcoinity to stay up to date with prices.

The thing I do not understand is how the price can jump up to $375+ with the amount of volume that is going on.

If you look at the graph the amount of volume when it peaked ranged from 1.25 Million to a little over 2 Million (The bubble).

How the hell can bitcoin in the past month go from $141 to over $375 with having the MAX volume of under 100,000.

It was hovering at about 60K-80K before it shot up. Maybe somebody can explain to me as to why/how this has happened.

I am not the type of person that says I told you so, but isn't the drastic appreciation of bitcoin eventually going to bubble down to a reasonable price again like it did in the past?

I have seen the highs and lows, but somebody needs to help me understand as to why this is going on with the amount of volume that is going on.

Thanks in advance!!!!

Maybe people see Bitcoin has good future and 300+ is good price to buy now for many. And not much sell offs because whales are affraid with such adoption they could not maybe rebuy lower. Just my thoughts

I think it started to gain traction due to the Bitcoin ATM, the expansion of bitcoin in china and that investors are starting to take note that bitcoin isn't going anywhere and that this may be a legitimate investment!  I myself have started talking my clients into starting to accept bitcoins so taht it will also help gain more traction.

Back in April, Mtgox had 80% of all exchanges volume. Now it as only around 25%