6 CommentsThe price of the world’s most famous cryptocurrency skyrocketed during the last two weeks. The price of Bitcoin went from less than $450, the value registered on 19th May, to a current value around $650.
This means a growth of more than 30 percent, as you can see below thanks to Bitcoincharts.com.
The surprising growth rate led CNBC to publish an article entitled “Bitcoin is back” on its website, where the business news television channel talks about a price jump of 80 percent between April and June of 2014.
CNBC even talked to the cryptocurrency entrepreneur Roger Ver, also known as Bitcoin Jesus. “Recently more and more people are realizing how much of a world-changing technology Bitcoin is”, he said, adding that “we will see more and more of this until each Bitcoin is at least tens of thousands of dollars each. I think this will happen sooner than any of us expect”.
But, of course, CNBC was just one of the many platforms that decided to talk about Bitcoin in the last few days. The value spike has generated some speculation, especially after the publication of “The Willy Report”, a blog post recently published that denounced an alleged plot to manipulate the price of Bitcoin through the use of bots. The report also blames the bots for the theft of millions of dollars from the now defunct exchange Mt. Gox.
However, the publication of “The Willy Report” was not the only important thing that happened during the past two weeks. Let’s take a quick look at some of the recent events in the Bitcoin world that might have boosted this growth wave.
1. Euro Pacific’s Peter Schiff and Julian Assange decided to publicly support Bitcoin.
2. Three new Robocoin ATMs arrived in the United Kingdom.
3. DISH announced it will be accepting Bitcoin and claimed to be the largest crypto-friendly company so far.
4. A new patent awarded to Amazon might bring big changes to the Bitcoin ecosystem.
5. The association Bitcoin Australia launched a preemptive strike against cryptocurrency-related restrictive taxes.
6. Coinbase handed out Bitcoin to 20,000 college students as part of a massive giveaway.
7. The rapper 50 Cent decided to accept Bitcoin for his latest album, titled “Animal Ambition”.
8. Apple changed its terms of service and will now allow the presence of Bitcoin apps in its App Store, as long as they are compliant with the law.
Check Bitcoin Charts distribution by Currency. CNY used to be less than 10%. Now they are greater than 50%. What’s likely is a China whale pump and dump.