Today, we saw another article on Bitcoin on the Wall Street Journal blog. The piece is on the three key challenges ahead of the currency this year. The post argues these challenges are: regulation, adoption and volatility.
The Australian dollar reversed unexpectedly to the downside against the U.S. dollar in the last few weeks and is now trading very close to yearly lows. As such, we are now tracking a new wave count as current bearish price action is quite strong.
Against the U.S. dollar the British pound is back to its strongest in almost three years. Against the single European currency unit, which incidentally is more than holding its own vs. the dollar, the pound is back up to its strongest in a year.
Bitcoins have been attracting significant interest recently. With the Winklevoss twins the latest in a line of high-profile investors to throw their weight behind the digital currency, the time might be ripe for getting in before it explodes.