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Soaring Media Buzz Keeps Bitcoin Prices Near $200

October 29, 2013 at 0:03 by BitcoinNews

More encouraging signs for wider bitcoin adoption buoyed the price this week, despite a minor pullback from the brief, parabolic move that brought most exchanges above $200 a week ago.

Currently the weighted average price of the top exchanges, according to bitcoinaverage.com, shows a rise over 6% in the past day to $198.55 from a start of $186.58.

Soaring media buzz has fed off the dramatic $70+ advance a week ago, including investment, business, and consumer angles in much of the popular press, from the Seattle Times to the Wall Street Journal.

NPR’s business news this morning began with the world’s first bitcoin ATM in Vancouver, where users will be able to access the digital cash near a coffee shop. Though users are limited to just about $3000 a day, which seems more than adequate, it also features cutting-edge palm-print identification, which was anticipated at least several decades ago by Mel Brooks’ Spaceballs. The tangibility and novelty of the gimmick caused a lot of buzz in other media as well.

There is also the dramatic story of the Norwegian student Kristoffer Koch, who managed to find and recover the $27 of bitcoin he bought in 2009. To his surprise, his bitcoin was now worth over $1 million, and he bought an apartment with the funds.

Bitcoin-related businesses are making gains off of the increase in popularity. Blockchain.info, for instance, just celebrated its 500,000th bitcoin web wallet with 10 free bitcoins to the lucky sign-up.

In fact the search term “Bitcoins”, perhaps unsurprisingly given all the media coverage, was in the top 10 this week in Yahoo’s search results, and there was even a mention in USAToday of U.S. President Obama asking Google CEO Schmidt about bitcoins.

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