Bitcoin’s “Hockey Stick” Growth Attributed To Novel Gaming Service
Eleven months ago Bitcoin’s trajectory was nearly vertical as each day brought a higher price and the daily transaction volumes on the Bitcoin network were seeing new record levels each day as well. But then suddenly the ascent stopped and what followed was a long slide back towards earth.
In the months that followed those June 2011 highs the exchange rate had dropped by more than 90% from the earlier highs and the transaction volumes had dropped as low as 68% from the peak. While the exchange rate is still down considerably with bitcoins trading around $5 USD now the daily transaction volume has shot back up and is once again breaking new records.
Looks almost like an ad for SatoshiDice, however if observation on number of transactions is correct it may be interesting.