Based on our last post, online vendors and popular places are jumping on the digital currency bandwagon: TigerDirect.com, WikiLeaks and Las Vegas itself are the latest inductees.
Bitcoin Network Capacity
The Bitcoin network capacity was 14.38PH/s last week and is now 17.42PH/s. The Bitcoin network is now 121% over the span of two weeks.
2014 Network Prediction: The overall network will continue to grow but the incremental % increase will have to reduce due to the current level of hashing power on the Bitcoin network. The relative additional impact of hardware will start plateauing soon.
Bitcoin Market Capitalization
The Bitcoin market capitalization is $11.7B this week. This marks approximately 1 month where the market capitalization of Bitcoin has remained constant. People wanting stability in digital currency world are getting their wish.
For perspective, it was listed at $1.652B --> $2.504B --> $4.0B --> $6.4B --> $10.4B --> $14.8B --> $12.9B --> $11.9B --> $8.27B --> $9.8B --> $9.89B --> $11.4B over these last few weeks.
Bitcoin Pricing Trends
If we look at the pricing trends this week, Mt Gox showed stability around $900.00, this is consistent with our findings over the past 4 weeks.
On Virtex Canada, it appears the pricing was a little more stable, hovering around $850-$890.