It does seems strange that when bad news came Bitcoin price skyrocketed. Just like this morning, Washing Post posted an article http://www.washingtonpost.com/blogs/wonkblog/wp/2015/01/14/bitcoin-is-revealed-a-ponzi-scheme-for-redistributing-wealth-from-one-libertarian-to-another/ indicating Bitcoin is a ponzi scheme, which is straight bad news right? Well yes indeed it was, but then guess what? Bitcoin price skyrocketed, well not really, it is making up a day loss, hope that it will continue to make up the loss, talking about volatile!
As I have mentioned on previous blogs and also in the bitcoin related chat room and forums. Bitcoin cannot go below $25-$50, it is impossible, because at that price we will see a surge on people buying Bitcoin and will cause the price to go high again. Well I guess I was close enough. Bitcoin hit $150 lowest since beginning of 2013, then went up 30%. Bitcoin at the moment maintaining its $200 position as people are pouring in to buy bitcoin, let’s hope the momentum keeps on going.