Bitcoin and the Market: What's next?
Indications coming out of China can be seen as, nothing less than, frankly, negative. Bitcoin has for a long time been functioning, not only as a means of exchange but also as a store of value. The returns from 2013 clearly suggest that mainline investors, buoyed up by stories of spiralling returns, were crowding on-board. The currency peaked in early December at just over $1,000 and is now, March, trading at just over half of that, but is this necessarily a negative? To examine what this means more clearly, I am going to apply some fundamental economic reasoning in an attempt to evaluate....
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