announcing that he wants 1,000,000 people to useBitcoins.
There is again positive news flow in the media, talking
Technicals are bullish.
Bitcoin analysts see evidence that the new, second rally leg will be a major wave up. According to Elliott Wavetheory ,this rally is typically stronger than the first wave,and it should lead to new all time highs above 31.89 $, theJune 2011 high.3.
Psychology has turned up
After multiple issues in spring and summer 2011,
including hacks of the biggest exchanges, security flaws,
fraud, etc. Security has improved and this led to moretrust in Bitcoins than ever before.
Investor optimism has also improved, with more people being bullish than bearish on Bitcoins (current bullishconsensus is at 78.9% per our online poll here).
Trading BitcoinsThere are many exchanges offering Bitcoin trading.Once the account is funded with fiat money, basically,Bitcoins can be traded in the same way as stocks, Forex,Gold, Silver, or other commodities: Just place an order,set a limit and then get the trade executed
a matterof seconds.However, Bitcoins cannot (yet) be traded on regulatedexchanges via online brokers like eTrade, ameritrade,etc. If people do not have funds in Bitcoin exchanges, itcan take up to a couple of days to have funds transferredto the Bitcoin currency exchanges. If Bitcoin prices arerising during that deposit delay, people will miss this partof the rally. And this is exactly why there has been the
“Race” for bitcoins in spring 2011. People were racing to
find the fastest way to get funds into Bitcoin exchanges.One of the biggest questions in the Bitcoin forum at the
time was “how can I get my funds fastest into
biggest Bitcoin exchange). Here are just two revelatory comments from the forum: