.08 was, if not a bubble, a spike, since it is down to .05 now. I'm betting on it going down a bit more before it starts climbing again.
(of course, I'm only planning on buying like 10 dollars worth of bitcoins anyways, so it's not a real momentous decision)
When comparing spikes, don't compare closing prices to opening prices. There are benefits to being the lowest/highest offer when the market opens. For example, right now the high bid is $0.10 and the low ask is $0.05, which will result in a trade at $0.75, which is better than either person's bid or ask. Now suppose there was a bid at $0.99, and after the market opened, someone offered an ask for $0.99. He didn't get the first trade and ends up spending more money than the person who had a higher bid at the beginning of the day. The same is true for an ask of $0.049 that goes through at that price. If he had gotten the higher bid, he could have gotten about $0.75, but instead he only ends up getting $0.49.
And there goes my trading advantage.
Don't never say I ain't never not given you nothin'.
I may be reading the page wrong, but it looks to me like the bid is .05 and the ask is .055555 (at least on paypal, which was what I was looking at before)
I understand what you are saying about an advantage of being the opening trade, would this be something which was likely to drive the price of bitcoins in dollars up or down though?
(edit) so looking at the trading data the opening bid was, indeed, .1 how did you know that?
