The One Chart that Tells the True Story of Bitcoin this Year

Much has been made this week of the news that combined trading on bitcoin exchanges has reached a record high. As the BTC/USD exchange rate has climbed towards $400, so exchange volume has risen to close to 4 million bitcoin a day. As this Coindesk article points out, there are some who believe that the reported numbers are questionable and may be inflated by “fake trades” designed to give some exchanges the appearance of liquidity but, as with price, trading volume is not the metric to which those who believe in the future of bitcoin should be paying attention.

I will freely admit that what first drew me into the world of crypto currencies was the volatility of bitcoin’s exchange rate and therefore its potential as a trading instrument. I make it a point not to trade anything that I don’t understand though, and as I dug deeper into the subject the whole concept began to intrigue me. Bitcoin is not just another commodity, it is something that has the potential to fundamentally change the way we think about money and could ultimately be a huge force for good in the world.

Call me an idealist if you will, but

Read more ... source: TheBitcoinNews

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