
Bitcoin spikes 70% in a month; nobody knows why - tmlee
http://www.cnbc.com/2015/11/03/bitcoins-price-jumps-more-than-70-in-one-month.html
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throwastone
Looks like algos picked up on log scale trendline break (Oct 25th-27th or so)
from long term consolidation, thus the acceleration in the past 30 days.
Buyers pile in. Price goes up.

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ac29
Yesterday, there was speculation it was due to China [1], increased legitimacy
[1], or a ponzi scheme [2].

A few comments here:
[https://news.ycombinator.com/item?id=10497141](https://news.ycombinator.com/item?id=10497141)

[1] [http://www.bloomberg.com/news/articles/2015-11-02/bitcoin-
is...](http://www.bloomberg.com/news/articles/2015-11-02/bitcoin-is-suddenly-
surging-again)

[2] [http://www.dailytradingprofits.com/5063/is-bitcoin-being-
pum...](http://www.dailytradingprofits.com/5063/is-bitcoin-being-pumped-by-a-
ponzi-scheme/)

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nikolay
And that's why trading needs fees, otherwise craziness follows.

~~~
arsenide
I can find my friend and give him $5. There "needs" to be a fee attached to
this?

