Doesn't anyone get the feeling that, having over 85% of the market and being the only market-mover, MtGox could be in a scheme to inflate the prices of Bitcoin and make profit for some investment bankers who could be behind this whole price hike?
In the summer of 2007 the stock markets all over the world had record increases(I myself managed to catch the wave and sell just before the big downfall, which began in Oct-Nov 2007). The market crashed with the bursting of the housing bubble and the beginning of the Global Financial Crisis.
Then in spring/summer 2008 oil jumped to nearly $150 per barrel, which quickly cooled off to levels below $80 at the end of 2008 and beginning of 2009.
Then in 2009 the price of commodities, more particularly grain, wheat and so on, skyrocketted- there was even concern that this could lead to disastrous consequences in the world's food supply. This seemed to cool off for a year going into 2010.
Beginning in 2010 we saw the prices of precious metals start going up very steeply. Well, here we really have a high demand for metals, especially gold, from China and the Middle East, since they are looking to diversify their foreign cash reserves and turn them into something of value. So this one has been continuing, it's the only price rise which, for me, has any real background to it.
And we get to 2013, in which we see Bitcoin become mainstream- people are talking about it on the news, in conferences, we have laws being passed which look at digital currencies. And we see the price jump five-fold in the matter of one month???
OK, it's a bubble- there's no doubt about that.
The question is- won't this hurt Bitcoin? With such volatile prices, trading with bitcoin becomes a very tricky business, as most goods are sourced in other currencies by the retail traders and they have to constantly change the bitcoin price in order to keep thing in balance.
Aww, or it could be the just the next "conspiracy theory" from a guy who knows nothing
P.S- Morgan Stanley and Goldman Sachs are trading with Bitcoins- nobody knows in what volumes and how. But let's just not forget who came clean out of this whole Global crisis...
