Bitcoin has developed some instability in the pricing over the past two weeks.
Specifically, the instability has accelerated due to Apple blocking the BTC blockchain app on their AppStore and the news today that Mt. Gox (largest BTC exchange) has temporarily suspended their cash withdrawals.
Bitcoin Network Capacity
The Bitcoin network capacity was 17.42PH/s last two weeks and is now 23.72PH/s. The Bitcoin network is now 136% 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. Note: Based on Nov-Feb data, difficulty average is 131% --> 119% and declining each 10 day period due to increased hashing power to impact the % difficulty increase..
Bitcoin Market Capitalization
The Bitcoin market capitalization is $13.6B this week.
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 --> $11.7B over these last few weeks and months.
Specifically, the instability has accelerated due to Apple blocking the BTC blockchain app on their AppStore and the news today that Mt. Gox (largest BTC exchange) has temporarily suspended their cash withdrawals.
Bitcoin Network Capacity
The Bitcoin network capacity was 17.42PH/s last two weeks and is now 23.72PH/s. The Bitcoin network is now 136% 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. Note: Based on Nov-Feb data, difficulty average is 131% --> 119% and declining each 10 day period due to increased hashing power to impact the % difficulty increase..
Bitcoin Market Capitalization
The Bitcoin market capitalization is $13.6B this week.
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 --> $11.7B over these last few weeks and months.
MT GOX - 10 Day price
Virtex - 10 day price
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