Rising around $50 in price, Bitcoin had a crazy ride this week. Breaking the monotony that we’ve seen for the last 18 weeks with only single digit changes and the occasional bull run, the rise from $260 to $310 is reminiscent of the kind of trading we saw last year.
With a steady buying pattern this week, Bitcoin users experienced steady gains in price with no signs of stopping soon. Interestingly enough, most of the trading seems to be occurring inside the United States rather than being dominated by the Chinese markets like what is usually the case.
If you examine the movement of Bitcoin over the last month as seen above, you can see that price has been nearly a linear line, meaning the exchanges have been saturated with buy orders. With price starting at $230 and climbing $80; a