Bitcoin has been around for a while now, remaining in relative obscurity. Until recently. The cyprus “we’re stealing your money for the benefit of our country” nonsense has created such a demand for something other than “normal” currency that suddenly something like bitcoin is looking attractive to a lot of people, most of which probably don’t even understand what it is. The demand for the coins is now going exponential, doubling, tripling, and blowing past $100 USD conversion rate with no sign of slowing.
So… Looks just like any other market bubble, unfortunately. This rate of growth is unsustainable, so ultimately it will have to take a turn and come back down rather quickly. The question then will be, can bitcoin survive the great bitcoin bubble of 2013?
Yes, I’m trying to be one of the early ones to talk about “bitcoin bubble”. Why else would I write this? 😉