meta news

[101111]

There has been a lot of very bullish news lately, eg new exchanges, big VC money, etc in addition to talk of potentially massive market forces like China, the porn industry, Ebay/paypal, etc. possibly coming into play.

However equally if not more important and bullish there also seems to be a very positive media trend of taking bitcoin more seriously. Maybe it's selective reading on my part, but there seems to be far less of the '... anonymous hackers ... magic the kingdom trading virtual currency .. drug dealers on the silk road .. money laundering .. terrorism ... anti-social anarchists...' etc etc

I would not want to be on the short side of the trade once this consolidation works through, and if the $150 area can be breached over the next week or so, watch out above.

[iikun]

I think part of the barrier to higher prices at the moment is just fear of another sudden crash. Hence the more stable value appears to be around the 120~140 range of late.  As it gets up people who are more interested in making money than BTC itself get a bit antsy and sell, anticipating that the herd will do the same any minute.

Personally I'm very wary of any sudden spikes, regardless of any recent news, but that would change given a groundbreaking event such as adoption of BTC by a major online retailer or money service, such as Paypal. Although less news of hackers, illegal activities is more than welcome as you say I don't think it will have a noticeably direct impact on the value per se.

[101111]

Yes I agree with you, I didn't mean to imply a sudden spike, but a strong longer term trend.

[iikun]

In that case I'm with you.  I don't envisage a price over $1,000 like some do, but in the $200-300 range would be nice eventually