Now $325. Is this rise sustainable?

[knight22]

It's getting exponential and I don't think it is sustainable, unless we are on the verge of the next bubble but I doubt so. Thoughts?

[richroll6]

$350 on the Huobi. The stops have been pulled back. The lights are green. All systems are go.

[creationlayer]

Well every upwards movement eventually has a counter movement to a degree, or cooling off period. The question is will people continue to hold longs, and follow the trend, or exit positions and evaluate. Eventually traders take profit.

Sustainable is relative, but a healthy thing for Bitcoin would be to sustain this level at least above $300, so having some sideways movement. I think with this rise it is definitely possible and then I hope to see we set a higher floor rather than the 210-240 range.

[rendravolt]

Seeing the interest of people to buy BTC is very strong, it could be later BTC will return to the price of December 2013

[knight22]

Looks like the price is holding tight after the small set back. The rally will probably continue during the week end.

[BitcoinXio]

Sustainable is the right term to question here, but without knowing the driving force it's impossible to answer. If it is China, how come it's nearly impossible to find an answer to the spike in interest? Why overnight did all of a sudden we go from $275 range to $350. That is a huge market jump. So in my humble opinion, I'm not sold that it's sustainable, but I do strongly believe that we can stay over $300 and we may see a correction to the lower $300's. But heck, if we can inch up to the $400's, I'm not complaining!!!

[richroll6]

I believe that it will be mostly up and up from here for a few years.

With China at the beginning of the inevitable and painful shift from a manufacturing economy to a service economy which results in options for good investments there growing slimmer and slimmer, it seems to me that many will invest in bitcoin and rallies like the one we saw on Huobi last night, (meaning last night in U.S. time), could become commonplace.

Hopefully, the Chinese government won’t take measures to prohibit or restrict the purchase of bitcoin to stop the outflow of capital.

So, once again -- The stops are out. All lights are green. All systems are go. Prepare for liftoff.

[Ishotas]

IMHO, yes.

I'd even go further and argue that the previous price range of 230-260 throughout this year was unsustainably low.

Despite with all the positive developments around Bitcoin, its market cap still hovers under 5 billion USD. The equivalent to 10% of that amount has already been invested in Bitcoin companies this year alone.
Consider also the renewed interest in China for Bitcoins, which comes with the RMB devaluation and decreased confidence in local stock markets. Chinese love to save and invest. With over 21 trillion USD in savings, even if a tiny fraction of those savings are put into Bitcoin, it will have a big impact.

I think it was about time the price went pass the 300 mark.

[richroll6]

IMHO, yes.

I'd even go further and argue that the previous price range of 230-260 throughout this year was unsustainably low.

Despite with all the positive developments around Bitcoin, its market cap still hovers under 5 billion USD. The equivalent to 10% of that amount has already been invested in Bitcoin companies this year alone.
Consider also the renewed interest in China for Bitcoins, which comes with the RMB devaluation and decreased confidence in local stock markets. Chinese love to save and invest. With over 21 trillion USD in savings, even if a tiny fraction of those savings are put into Bitcoin, it will have a big impact.

I think it was about time the price went pass the 300 mark.

Sounds good. That the previous price range of 230-260 was "unsustainably low" sounds accurate to me.