The good news just keeps on rolling in.
Following yesterday’s article which spoke of a $10 raise in the bitcoin price, another jump has now been witnessed. Bear in mind, this one is not as large, but considering the drops of last month and January, continual raises such as these are certainly wonderful bits of news to celebrate.
The price of bitcoin has jumped up another $5, and is now hovering at around $278. It’s hard to say how long this good fortune will last; another few weeks, a few months, the rest of the year… We really don’t know, but bitcoin enthusiasts are likely to enjoy this lasting trend while they can, and of course there’s nothing wrong with dreaming a little bit. Maybe bitcoin will continue its streak well into 2015 and cross the $500 mark or the $1,000 mark by the time we’re ready to say “Happy New Year” again.
Oddly enough, the trend seems to have been sparked by a large announcement of sorts, similar to what we witnessed previously when Coinbase brought forth its Lunar Exchange. This time, the credit goes to The Wall Street Journal, which broadcast the word “bitcoin” across its headline in recent weeks and is now being “blamed” for the 10 percent price increase we’ve been bearing witness to. It’s probably even likely that not everyone read that specific edition of the WSJ, but merely saw the name in bright, bold letters which was able to spark enough interest. Behold the power of the press! It’s as strong today as it was thirty years ago.
So while you’re out taking your next stroll, should you happen to see the WSJ for sale in the streets, stop and give it some thanks; a little gratitude may go a long way the next time bitcoin is in need of another rapid rise.