This week has shown some instability for the Bitcoin currency.
Despite the recent advances, Bitcoin has withdrawn from a relatively stable price around $800-900/BTC to around $500-700 this week.
This is predominantly due to China getting cold feet on the adoption of Bitcoin on Dec 18th and limiting deposits and withdrawals. "referring to the meeting between the People’s Bank of China (PBOC) and third-party payment companies, in which the payment firms were told to stop dealing with bitcoin exchanges." (Source: Coindesk).
However, there are positive signs for the currency as well.
It appears that retailers Overstock.com is bullish on the virtual currency and will accept it as payment (Source: Marketwatch - Wall Street Journal) as will Mobile Vikings (Belgian Wireless Company).
Additionally, Poland and Singapore have made progress in determining they are willing to cooperate with Bitcoin.
The Bitcoin network capacity was 9120TH/s last week and is now 9713TH/s. The Bitcoin network is now 106% over the span of this week.
The Bitcoin market capitalization is $8.27B this week. For perspective, it was listed at $1.652B --> $2.504B --> $4.0B --> $6.4B --> $10.4B --> $14.8B --> $12.9B --> $11.9B over the last few weeks.
It appears that the capital investment in Bitcoin has peaked recently around $15B and has roughly fallen to $8B over 4 weeks.
What do we expect next in 2014....Who knows??
Despite the recent advances, Bitcoin has withdrawn from a relatively stable price around $800-900/BTC to around $500-700 this week.
This is predominantly due to China getting cold feet on the adoption of Bitcoin on Dec 18th and limiting deposits and withdrawals. "referring to the meeting between the People’s Bank of China (PBOC) and third-party payment companies, in which the payment firms were told to stop dealing with bitcoin exchanges." (Source: Coindesk).
However, there are positive signs for the currency as well.
It appears that retailers Overstock.com is bullish on the virtual currency and will accept it as payment (Source: Marketwatch - Wall Street Journal) as will Mobile Vikings (Belgian Wireless Company).
Additionally, Poland and Singapore have made progress in determining they are willing to cooperate with Bitcoin.
The Bitcoin network capacity was 9120TH/s last week and is now 9713TH/s. The Bitcoin network is now 106% over the span of this week.
The Bitcoin market capitalization is $8.27B this week. For perspective, it was listed at $1.652B --> $2.504B --> $4.0B --> $6.4B --> $10.4B --> $14.8B --> $12.9B --> $11.9B over the last few weeks.
It appears that the capital investment in Bitcoin has peaked recently around $15B and has roughly fallen to $8B over 4 weeks.
What do we expect next in 2014....Who knows??
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