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It's been an interesting week, both this one and last, as there was considerable excitement leading to the Bitcoin Conference hosted by Bruce Wagner in New York. After several weeks of price decline, the Bitcoin community finally found a reason to prop the price up after what could be described as a "crash" down to the $5 range. Unfortunately, the conference did not deliver on the anticipated media coverage, and within a couple of days, short-term speculators bailed on their purchases.
Today we've had some major price movement, touching a low of $7.64 from the nearly $12 high that was hit before the conference. Even though we're going into an infamous weekend, I do not believe we're going to go much lower - in fact, the low of $7.64 will hold through to Monday.
Media coverage this week was fairly sparse, except for the NPR story, which generated a significant spike on the 24th over at Google Insights for Search.
New memberships over at Bitcointalk.org have also been on the rise, in the 130-150 per day range for most of the week, higher than we've seen all month.
This week I sold part of my position at $9.40 and bought back in at $7.93. I am all BTC and no cash at the moment.
Posted in: Conference,NPR
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