Stage Set for Surge to $100/BTC

Back when I proposed Bitcoin might hit $100 USD in 2013, I definitely did not expect it could happen within six weeks. 

The media coverage and overall interest in Bitcoin has surged to remarkable levels. BBC, CBC, FOX, Bloomberg, Forbes, CNN, you name it, they've all run Bitcoin stories in the past two weeks.

Tradehill is back, ASICs are flashed up around the world.

There have been 243,000 downloads of the Bitcoin client in the last month.

On March 28th, 4824 users were on the Bitcointalk forums simultaneously, beating the June 19th, 2011 record by over 1000 users.

Bitcoin is now seen as a real alternative to fiat, thanks to the fiasco that is Cyprus.

There's $11 million in open bids on Mt.Gox, and only $2.5 million in asks. The wait list for account verification on Mt.Gox is over 4000 users.

Weekends are notoriously bearish for Bitcoin, but huge bid walls, amounting to over 10,000 BTC above $90 are now in place. 

Is this a bubble, or the next step in a global financial revolution? You be the judge, but if I were you I wouldn't get in the way of this freight train.

Posted in: bullish