I just wonder who or what is behind the steady upward pressure these past few days? Is this an extended pump and dump scheme? Most people at this of the year don't have fiat to spend on bitcoins; many old-timers have bitcoins but are looking to buy in at a low price point. At current price, bitcoin is expensive and getting more expensive.
On early morning of Jnauary 1st, 2014, someone sold off a big bunch of coins, thus driving down the price--I don't remember the exact numers. Since then we've been going up mostly.
The trading volume is low enough that it's entirely possible someone is playing a gmae of pump and dump, an extended version maybe.
I am a generally a bear at this moment in time simply because everytime I am taking tentative steps into the market, I am getting spooked out Bitcoin dreams. I have blabbered on about this at length in another thread, but basically, I clearly have a deep rooted subconscious fear of this market at this point in time.
Having said all that, as the charts have started to look both more positive and stable, I have been trading the last couple of significant peaks and troughs and have turned a several hundred quid profit doing so....sold at $807 (Bitstamp), as it looks like the move is running out of steam for now.
All seems well, but with Bitcoin, be ready to expect anything. I will certainly not be going to bed tonight (weekend) with a big pile of coin in my wallet, but will be on look out for buying opportunities for trading purposes, certainly not for holding.
