Let me rephrase that then:
It only takes some lucky media attention to spark an influx of cash, and a corresponding rally, especially when we start off with a rather extreme volatility like this.
So what you are saying is that its media share is low. There are a lot of people that don't know about Bitcoin who might want in so it has the potential to increase in price. This has nothing to do with the dollar value. If the price was $1000 per coin and the general knowledge situation was the same would it also be a low price?
Hmm, what
do I mean?
The current situation of bitcoin looks very much like an unstable balance. Most people think its price will either increase, and increase a lot, or decrease, and decrease a lot, maybe even die. Apart from that, there are a number of events going which
might spark a large new interest in bitcoin, e.g. occupy wallstreet, but also bitcoin being mentioned a lot at Constellation's Connected Enterprise 2011.
Thinking about it, I believe you're right, it has nothing to do with the dollar value in itself, only with the bitcoin situation being at a tipping point. The reason the tipping point is there, is conflicting signals. There seems to be potential external interest, but the exchange rate has been dropping. Which of these impulses is going to prevail?
i think tomorrow we get a large ramp in the stock mkt which will correspond to a ramp in Bitcoin.
Why would a ramping stock market correspond to a ramp in bitcoin? Wasn't the reasoning: "Stock markets are crashing! There's a lot of 'free wealth' which needs new investments! Bitcoin is ideal for that!"
