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Bitcoin Showing Typical ‘Aggressive Bubble’ Behavior: SocGen
Online currency bitcoin has surged in value since the Cyprus bailout saga sparked global interest in alternatives. The currency surged over 360 percent in the past month, but one currency analyst is warning of its unstable nature. Bitcoin is a virtual currency allowing users to exchange online credits for goods and services. There are currently 10 million Bitcoins in circulation but the currency is capped at 21 million coins. While there is no central bank that issues them, new bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining. Bitcoins effectively bypass ... (full story)
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