Bitcoin Market Summary - Dec 7

This week has been difficult for the Bitcoin currency. 

Despite it's lumps by being banned from use by Chinese banks and no longer accepted by Baidu (Chinese Google) and China Telecom, it still prevails. 

Therefore, it is only appropriate that I now change this posting icon into a slightly damaged International Space Station. 


Despite the adversity, Bitcoin continues to stay at relatively stable pricing around $700-800/BTC and this maintains the 5 week average of approximately $800.

Here's a brief timeline of the recent BTC value increase. For November it has increased from $200/BTC --> $1200/BTC --> $775/BTC

• Oct 2 ($80/BTC), 
  
• Oct  24 ($204/BTC), 
  
• Oct 25 ($155/BTC) 
  
• Nov 2 ($200/BTC) 
  
• Nov 8 ($310/BTC)
• Nov 15 ($475/BTC)
• Nov 17 ($503/BTC)
• Nov 18 ($900/BTC)
• Nov 19 ($400/BTC)
• Nov 23 ($810/BTC)
• Nov 29 ($1226/BTC)
• Dec 7 ($775/BTC)

The Bitcoin network capacity was 5550TH/s last week and is now 7170TH/s. The Bitcoin network is now 129% over the span of this week. This investment in mining hardware is likely due to the pricing over $1200/BTC last week.

The Bitcoin market capitalization is $12.9B this week. For perspective, it was listed at $1.652B --> $2.504B --> $4.0B --> $6.4B --> $10.4B --> $14.8B over the last few weeks.

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