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Bitcoin Market Summary - Nov 8

11/8/2013

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BTC price rocket is primed and launching...This is extremely exciting time for BTC currency!!

The mainstream media and banking sector is finally realizing the impact of a digital distributed currency.

Here's a brief timeline of this huge gain, brief loss and HUGE recovery.
  • Oct 2 ($80/BTC), 
  • Oct  24 ($204/BTC), 
  • Oct 25 ($155/BTC) 
  • Nov 2 ($200/BTC) 
  • Nov 8 ($310/BTC)
  • Nov 15 (To be continued next week)

The Bitcoin network capacity was noted at 3088TH/s two weeks ago, 4217TH/s last week and now 3230TH/s. The Bitcoin network is now -30% over the span of this week. 

It appears the rapid increase in difficulty over the past 4 weeks has driven a large number of miners from the Bitcoin network.

The Bitcoin market capitalization was listed at $1.652B dollars three weeks ago, $2.504B two weeks ago and is now $4.0B this week (MT Gox Pricing). 


The currency has effectively doubled in value in just over 1 week....$1.5B in one week...Unbelievable.

BTC-E - 10 Day pricing - historic pricing

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