The price of bitcoin has hopped up to about $236. Last week, we saw the cost hovering around the low $220 range, and while the electronic currency did undergo the surge over the weekend that noticed it rise in price simply by nearly $50, it has now been suggested that this has been all part of the present hacking scam…
Everything started with BTER, exactly where nearly $2 million were stolen by alleged cyber thieves. Now, this news has come forth that HitBTC was “ hit, ” along with Excoin and a amount of banks. It is considered by some that the cyber criminals somehow managed to get their practical the price and manipulate it to suggest a massive rise. People would be therefore distracted that the string of future hacks set to take place would go unnoticed, and also to some extent, if this is exactly what happened… It worked.
Now the price has fallen back down, but the good news is that there is still a bit of a rise over what we witnessed a week ago, and we are faced once more with the age old question… Exactly what does make the bitcoin price go up and down? What are the principal factors affecting it?
Sometimes, it even feels like good news brings the cost to a halt. Following the announcement of Coinbase’s Lunar Exchange, we witnessed an enormous surge in price, only to notice an equally heavy problem almost a day later. Why so sudden, and why so drastic? Did the “ lunar love” die off that quickly?
At this point the string of hackings may have a negative effect on the price (similar circumstances were observed following the Bitstamp attack), so something is telling me that $236 is not something we should get terribly used to yet… So let’s enjoy it while it’s here and prepare for the future as best we can.