BITCOIN PRICE RISES 10% AFTER FRONT PAGE OF WALL STREET JOURNAL

Didn’t it tickle your fancy yesterday to find that Bitcoin starts the month of March at the very top of the Wall Street Journal with a banner ad for their feature article? (I’ll assume for the sake of argument that you read the daily bible of the financial world as religiously as it is printed.) Wasn’t it also scintillating to find that Bitcoin’s price, as generally irrelevant as it is, rose a solid 10% over the course of Monday? Coincidence? I think not.
Bitcoin price takes off Monday morning
Bitcoin price was heading back downward all weekend long and dropped to $245 on Sunday, after several days above $250. Then, the deliveries of the WSJ morning edition start hitting the street, and it’s fortunes turn right around, peaking at over $270. Did many investors have buy orders on BTC at $250, and they started getting pulled first thing Monday morning? Sure. Does that explain its passing $270 on Monday night? No. So I’ll happily give WSJ the credit for its bull run. Not the first time the media has influenced a commodity price, and it won’t be the last. Maybe they’ll cut it down in April, and BTC will have to give back the gains? Won’t be the first time for that either.

This post was published at Crypto Coins News on March 3, 2015.