Bitcoin Forum

The price of bitcoin has increased above $600, rising over 7% in the past 24 hours and 34% in a month.

The last time the price was over $600 was 21st March, during a gradual decline that eventually saw the value reach a low of $344 on 11th April.

For the majority of this month, the price has ranged between around $418 and $453, beginning to rise above this level the week after the Bitcoin2014 conference in Amsterdam.


The price of bitcoin topped $600 today.
This week’s price increase follows the news that US satellite service provider DISH Network is to start accepting bitcoin payments later this year.

DISH Network Corporation, which employs more than 30,000 people, has more than 14 million customers and reported revenue of $13.9bn in 2013.

This makes it the largest company, to date, to accept bitcoin. Previously, online retailer Overstock was the largest, with revenue of $1.3bn in 2013.

Bernie Han, executive vice president and chief operating officer at DISH, said: “Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals.”

DISH has chosen Coinbase as the company that will process its bitcoin payments. Coinbase claims to currently have around 32,000 businesses on its books, with competitor BitPay citing a similar figure.


Courtesy Link 'http://www.coindesk.com/bitcoin-price-crosses-600-rising-34-one-month/'

I just woke up and looked at bitcoinwisdom to see that big run up to 600. I wonder what caused that?

Nice article, but it's about the long-term prospect. The longer bitcoin continues to simply exist, the more people see it's potential as an asset-class alongside (or in place of) gold....with a huge kicker; namely that it's *actually* useful as money in our modern, electronic, internet-centric, globally-connected economy!

There are probably lots of people who see the above potential, but who also recognize simply that bitcoin is a new technology, and there is therefore some existential risk to it. But as noted, the longer it simply exists and continues to work, the more those concerns take a back seat in people's mind to the asymmetric value prop that bitcoin offers; ie, either a >>10x rise from here, or drop to 0. As time goes by, the probability of the latter goes down, so the position becomes more +EV for more people's risk profiles.

good "old" bitcoin times are back  :P

I'm lovin' it: http://cryptocoinstats.com/performancetracker.php

Bitcoin Back To Rock On
#BBTRO

Just lovely to see the price rise once again, was mind numbing watching it at 400 for so long. Let's hope it keeps rising. :)

This graph has again proved itself to be true...

http://www.game4coins.com/btc/ta_log.png

1500 before next crash then? Sweet. :)

what caused that?
More buyers than sellers!  :D
Seriously, there has been a real flood of good news the last ~6 weeks. These are very exciting times for Bicoin.
(For example) Dish Network accepting Bitcoin was a recent major development.

http://thenypost.files.wordpress.com/2014/05/dishnetwork1.jpg

\

there's not always a cause, just regular market momentum.

It was bound to happen sooner or later

someone activate the bot  :D

I already asked myself what could have caused the recent rise. Thanks for pointing me to that article. DISH is a big company. It feels like bitcoin is really approaching serious adoption.

the bull rushhh :D

ok dish is big company
but they not start accept nothing bahh

baidu is big company and also mega.co.nz
and now both not support bitcoin

its bot

As always it is a combination of things. It was way undervalued after GOX and has corrected for that. Now we are seeing more adoption and on a large scale so the price will reflect that.

When there is a rise , there is a fall.

Be careful.

Let's just hope the fall won't break out legs.

Surely not, but most of us get excited and buy with all their fiat Btc at any price hoping to get rich.

Just be careful when buying.

We are about here IMO


http://darkroom.baltimoresun.com/wp-content/uploads/2012/05/KRT-US-NEWS-SCI-SPACEX-2-OS.jpg

Well... there won't be a fall, unless there is a solid reason. BTC crashed from $1,200 to $900, after China banned it. It further crashed to $350 after the Mt Gox robbery came to light.

China will be back to ban it several more times this year. People have stopped listening to them. 

I don't think it was really the Dish Network news that has us back on the rise.  I have been saying for a long time now, that I didn't think the prices matched what they should have currently been at.  Over the entire 2014 so far there has just been so much adoption and so, so much money dumped into new technologies, and business on top of bitcoin, that it was only a matter of time before the prices started to reflect all of that.  It is finally happening now..

At $625 now, and keeps rolling.

more like 10000, graph is logarithmic  :)

This time never gone anywhere :)
BTC will shoot 1000 with this temps at the end of june and sooner you will see 8)
Time to buy :)

As per the Y-axis in right hand side, it is not 10,000 USD I guess. It is close to 5000 USD probably. But, that part is not yet drawn ;)

As someone said before, the Y-axis isn't linear but it's logarithmic, so following that chart the next bubble will peak around 10.000$...

lol... China has already banned bitcoin a few dozen times already. Yet they have two bitcoin ATMs there in mainland China, one in Beijing and the other at Shanghai. And not to mention the large number of Bitcoin ATMs and exchanges operating out of Hong Kong.

there is also a permanent average rise per year

It´s interesting how the patron seems to repeat over and over again. What do you think will be the next break limit to reach before the next crash?

Question is what will cause the next crash?  Will there need to be bad news?  Can the cycle of the crash be broken?

Let's hope the crash will be after new high.

I guess it doesn't need to be a crash, the increase could just plain out and eventually the price could start to fall. However if you look at the past and use it to predict the future you can see a clear repetition.

I think we are in full throttle?

Yeah, we are in driving seat

We are still 50% off the high.

It's still rising though so shouldn't be long.

Of course there will be a fall.
But there has to be a big rise before that. And then see how we consider 3 digits "2014 history" :)

We are right here...






http://lifeasacaterpillar.files.wordpress.com/2013/01/slow-motion-rollercoaster.gif

Events always collude to bring about downturns. Whether or not it is the events or some sort of self fulfilling prophecy is up for debate.

I love it, it was 'stable' for so long and the news is only positive lately.

The long stable period before the bull run does bode well. We found a firm floor above $400.

It's probably a combination of the two, don't you think? Bad events happen, people accept that the price is going to fall and so it does.

price should go down soon :(

I think the price of 600$ will be the lowest from now on. It will only goes up thats sure!! So now is the time to buy and keep your coins. I am not saying to keep everything you have.

well that dip down from 680 didn't last long or go far... IT"S BUY TIME BITCHES

That was just a dump from a whale imo, the buy pressure is high and we can't go lower than $600 in the next days.

And after it does it'll rise again, haha.

And it will be epic this time!
Enough with the bear market :)

With all the the capital and infrastructure coming in it is definitely undervalued at this point.

Might be a good idea to buy something. Will surely make a short time profit.

Pretty stable around this 650 level.

400 was probably the floor, so anyone investing from here will at most risk 250 per coin.

It's not really a risk. Even if it falls to 400 again it'll rise. And at the moment there's absolutely no reason for a fall.

Really looking forward to the one and two hundred dollar a month price hikes!! :)