It seems that since the false trading volume has been halted at the chinese exchanges that Bitcoin has been hovering around the $850 – $900 mark and it hovered there for a while; however it has begun to creep up as of yesterday, to break it’s sleepy spell. This could be a sign that the digital currency is beginning to find some price stability, which will help the overall image and utility of Bitcoin, as the volatility of Bitcoin proves to be one of the greatest weaknesses as a currency. If the volatility remains as low as it has been, then it is likely that Bitcoin will increase in utility as a currency and will gradually increase in value. One thing is for certain, that the ship of getting rich quick with Bitcoin has long since sailed.
Based on the past week bitcoin’s price has shown exceptional stability, more stability than Bitcoin is used to. This is likely to become a long term situation with Bitcoin now much of the false trading volume has subsided. The price is creeping up, but it is likely that slow increases will become the norm if Bitcoin has truly stabilized. We will update as more information on the Bitcoin markets and price becomes available.