So after a minor drop yesterday and a little bit of panic regarding the price, bitcoin is now back up to where it was two days ago at $273.
I warned in my article yesterday that the recent drop was nothing to worry about, that it was merely a small stumble in the recent patter of escalation we have been witnessing over the past week. I am very pleased (and I’m sure many bitcoin enthusiasts are pleased) to see that my predictions were correct, that this was a simple and tiny setback in an ongoing stretch for the digital currency’s price and that it would indeed resort back to getting higher and higher as time went on.
I also know that yesterday the third bitcoin auction held through the US Marshals Service took place and that the results are being released today, which may or may not have something to do with the price increase. The last two auctions, which occurred in December and July of last year, produced mixed results when it came to the bitcoin price. The digital currency rose a little bit, but not enough for crypto-lovers to put on their party hats.
Maybe this time is different. The old saying goes, “All things get better with age,” and now that time has gone by, it’s plausible to suggest that maybe the bitcoin auctions have grown in size, stature and popularity, and that the recognition of these auctions has doubled, maybe even tripled amongst the general public. Who knows?
The bottom line is that the bitcoin price is back up to a healthy number, and it probably won’t be long, should the digital currency continue this streak, before $300 is reached. After several months of waiting and worrying, bitcoin finally appears to be on a steady and healthy path towards recovery.