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.