Bitcoin Forum

I am a long term bull and I'm pleased to see the recent price increases, but I must confess I am puzzled by the pace of the recent price escalation. I have been a little busy and didn't have time to read up on everything I've missed - but perhaps someone can summarize things for me - what are the (perceived) reasons behind the growth in the past 2 weeks? Voodoo chartists please stay away. :) Thanks.

mainly its china, they are literally sucking up all the bitcoins, supply is starting to run dry in the west, and the chinese are still nowhere near satisfied.

China, greed, low volume!  :)

Re China - why now?

http://finance.yahoo.com/blogs/the-exchange/bitcoin-validity-price-gets-big-boost-baidu-160640862.html

Many wealthy Chinese are also nervous about their government's policy.  Bitcoin is a wonderful way of hiding your assets from a government.

Go to a casino and watch a chinese bet... there you go.

Digital gold, baby!

Like you can hide anything from the Chinese govt for any meaningful amount of time. :\

Greed/Panic/Speculation.

Fixed that for ya :D

Thanks I was lazy.

I think the shutting down of silk road and increase in high wealth individuals investing are the main reasons.

youtube video for demonstration?

When will Africa, India start catching up?
It's a shame that India is way behind esp. in mining and adoption.

there are 2 reasons why i think china is bullish on BTC. i am sure there are more, so someone else chime in.

1) china is the largest foreign holder of american paper notes. china holds $1.2 trillion dollars.. and the U.S. is printing unprecedented amounts of cash.. they don't want their holdings to be diluted. they also buy lots of gold for the same reason... and i think there's something about asian culture that loves gold.
2) they are the up and coming economy, and the nation as a whole is just.. hungry. and willing to take big risks for the sake of big rewards.

Yea well, they can't manipulate Bitcoin like they can their currency, so they'll be in for a rude awakening once they experience a free market absent their overbearing central planners. And yea, that includes the obligatory bubble greeting for most new comers to the Bitcoin economy. :)

No one mentioned the BIT?!

The yesterday run has been settled by this http://www.coindesk.com/fec-proposes-political-campaigns-bitcoin-donations/

More people getting into Bitcoin + more people looking to buy bitcoins = a rise in price

I really think it's as simple as that.