Greek debt crisis and the Biticoin Price

[sexycoin]

Over the past week, the Bitcoin price has made its strongest move to the upside in three months – a move that took place just as the Greek debt crisis escalated.

The price of Bitcoin has jumped from a low of $240.22 on June 24 (CoinDesk) to as high as $255.58 earlier today (Friday).

What is the possibility for the price continue growing?

[bitcoinarchitecture]

IMO Bitcoin and Greece are not connected. Greece will stay in the Euro. Bitcoin will move sideways for a while... (till 2016 at least)

[HarHarHar9965]

The only reason BTC has jumped up after the Greek crisis is because the media attention it hasbee receiving due to the Greece default tragedy. The bitcoin currency has received some attention due to its less collapse risk and all the media rumors about how it can save bitcoin. I don't think so bitcoin and Greece might have much of a future at the moment, but it did get bitcoin some fine attention;)

[Miracal]

The only reason BTC has jumped up after the Greek crisis is because the media attention it has been receiving due to the Greece default tragedy. The bitcoin currency has received some attention due to its less collapse risk and all the media rumors about how it can save bitcoin. I don't think so bitcoin and Greece might have much of a future at the moment, but it did get bitcoin some fine attention;)

Bitcoin is an awesome currency but whatever price increase it has been getting is not because people suddenly realized how cool it is, but because people realized about the existence of btc and its awesome features. How it has so less collapse risk and how decentralized currency is important. Greece has nothing to do with btc but thanks to media, we got a lot of attention lol

[greBit]

The only reason BTC has jumped up after the Greek crisis is because the media attention it has been receiving due to the Greece default tragedy. The bitcoin currency has received some attention due to its less collapse risk and all the media rumors about how it can save bitcoin. I don't think so bitcoin and Greece might have much of a future at the moment, but it did get bitcoin some fine attention;)

Bitcoin is an awesome currency but whatever price increase it has been getting is not because people suddenly realized how cool it is, but because people realized about the existence of btc and its awesome features. How it has so less collapse risk and how decentralized currency is important. Greece has nothing to do with btc but thanks to media, we got a lot of attention lol

bitcoin is an awesome currency and all, but it is more of an investment by now. It has a lot of pros as a currency but like every currency to be successful, it needs adoption. Although with less collapse risk, hassle free carrying and decentralized currency and more cool features, it wouldn't matter as adoption is all which is needed.

[OrientA]

Bitcoin rises because of media attention and more adoption gradually.

[bryant.coleman]

bitcoin is an awesome currency and all, but it is more of an investment by now. It has a lot of pros as a currency but like every currency to be successful, it needs adoption. Although with less collapse risk, hassle free carrying and decentralized currency and more cool features, it wouldn't matter as adoption is all which is needed.

During the last 18 months, Bitcoin has lost almost 80% of its value (against the American Dollar). So there is a general perception among the users that Bitcoin is undervalued right now. This might be one of the reasons why they are not very keen to do shopping using Bitcoin. Once the exchange rate rises, the usage will also climb up.

[BillyBones]

Over the past week, the Bitcoin price has made its strongest move to the upside in three months – a move that took place just as the Greek debt crisis escalated. The price of Bitcoin has jumped from a low of $240.22 on June 24 (CoinDesk) to as high as $255.58 earlier today (Friday). What is the possibility for the price continue growing?

If you are considering that because of Greece the price goes up, then what was the reason Bitcoin rates decrease to low earlier, it is matter of money value fluctuation rather than the crisis.

[CryptoRev]

Over the past week, the Bitcoin price has made its strongest move to the upside in three months – a move that took place just as the Greek debt crisis escalated.

The price of Bitcoin has jumped from a low of $240.22 on June 24 (CoinDesk) to as high as $255.58 earlier today (Friday).

What is the possibility for the price continue growing?

I think it's more of speculation. There can't be a lot of demand directly from Greece as the obviously don't have access to the funds they need to buy Bitcoins. But due to the speculation around the whole things, i think there is an increase in demand elsewhere.

[tiggytomb]

I agree, I believe the rise to be down to the heightened media attention during the Greece situation and also the natural increase in adoption due to general awareness.  However it gets attention it is great news.

[kjlimo]

I'll agree the two events are related, but I'll admit that existing non Greek Bitcoin users are likely the driving force rather than Greek new users.

I suppose it could also be nonGreek new users, but I'm still thinking existing owners.

[scarsbergholden]

Keep in mind the general media adds the bitcoin solution and that strikes an emotional response from traders in the bitcoin market has they begin to imagine a possible adoption of bitcoin in the Greece economy is fun actually to see of this happen, trading volume is up transaction are up, everyone is just waiting for a spike to scream loud bitcoiinnnnnnn.

[OrientA]

Grexit is just a wake up call for the world. Bitcoin adoption will pick up pace. Although still slowly.

[AtheistAKASaneBrain]

I always said fiat and Bitcoin are like a ying yang, they complement each other, and BTC will not necessary replace them. What BTC will replace is gold and anything else as the ultimate safe haven from the fiat scam, with its unique features it will render the rest of alternatives useless.

[Orwell]

The only reason BTC has jumped up after the Greek crisis is because the media attention it hasbee receiving due to the Greece default tragedy. The bitcoin currency has received some attention due to its less collapse risk and all the media rumors about how it can save bitcoin. I don't think so bitcoin and Greece might have much of a future at the moment, but it did get bitcoin some fine attention;)

Yeah, I think it's more psychological. People always look for reasons why and try to pin it on current events but it's probably just people getting involved with the hype.

[scarsbergholden]

If the media keeps pushing the bitcoin alternative for debt ciris or a form of salvation price will continue to rise trades love media attention even with about 1% of the greeks buying bitcoin.

[aakashsangwan]

If the media keeps pushing the bitcoin alternative for debt ciris or a form of salvation price will continue to rise trades love media attention even with about 1% of the greeks buying bitcoin.

yup, greeks are not buying bitcoins and it's only the whales who are playing with the market and with the mindsets of the people. And there are lots of people who are buying bitcoins at price decided by those whales.