Why Bitcoin's Price Has Leapt 64% Since April
Bitcoin's price has been on a roll of late. The CoinDesk Bitcoin Price Index (BPI) recently crossed back above $590 on the 27th of May, representing a 64% gain from 10th April when the price was as low as $360. Much of this dramatic price increase has come in just the last few days. For approximately a one-month period prior to 19th May, bitcoin was trading in a relatively tight band around the $450 level. Then, on that date, the price began to steadily ratchet upwards (see Figure 1). Figure 1: CoinDesk Bitcoin Price Index, 25th April - 26th May 2014. Source: CoinDesk Bitcoin Price Index.....
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