What is behind the recent growth in price?

[andrewsg]

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.

[adamstgBit]

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.

[LouReed]

China, greed, low volume!  

[andrewsg]

Re China - why now?

[Crazy]

Re China - why now?

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

[byronbb]

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

[Odrec]

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

[redwraith]

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.

Digital gold, baby!

[Crazy]

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

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

[Jrock]

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.

Greed/Panic/Speculation.

[Crazy]

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.

Panic/Greed/Speculation

Fixed that for ya

[Jrock]

Thanks I was lazy.

[NUFCrichard]

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

[goxed]

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

youtube video for demonstration?

[goxed]

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

[beetcoin]

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.

[Crazy]

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.

[Zangelbert Bingledack]

No one mentioned the BIT?!

[BadAss.Sx]

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

[FNG]

[lucaspm98]

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

I really think it's as simple as that.