Last week we asked the question "What does this mean for the next few weeks and months regarding Bitcoin?"
Well if the past week is any indication, there is still significant life in the value of Bitcoin.
The remarkable story to the Oct 2nd price drop is how quickly the pricing rebounded to a new monthly high price of $129.50 on BTC-E.
The Bitcoin network capacity was last noted at 1494TH/s and has grown to 2145TH/s. The Bitcoin network is now 143% over the span of one week. We noted last week a minimal increase in hashing power on the network...not so this week. This is a huge increase in Bitcoin mining power.
The Bitcoin market capitalization was listed at $1.652B dollars and now has increased to $1.75B. This is a means the Bitcoin market as a whole has increased in value by $98M in one week.
The significant increase in Bitcoin value and network power signal a large increase in investment into the Bitcoin network....a good sign indeed.
Well if the past week is any indication, there is still significant life in the value of Bitcoin.
The remarkable story to the Oct 2nd price drop is how quickly the pricing rebounded to a new monthly high price of $129.50 on BTC-E.
The Bitcoin network capacity was last noted at 1494TH/s and has grown to 2145TH/s. The Bitcoin network is now 143% over the span of one week. We noted last week a minimal increase in hashing power on the network...not so this week. This is a huge increase in Bitcoin mining power.
The Bitcoin market capitalization was listed at $1.652B dollars and now has increased to $1.75B. This is a means the Bitcoin market as a whole has increased in value by $98M in one week.
The significant increase in Bitcoin value and network power signal a large increase in investment into the Bitcoin network....a good sign indeed.
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