Every once in awhile I will post about the latest Bitcoin difficulty changes and price fluctuations.
Lets look at what has happened to the price/difficulty relationship since the last difficulty update:
Previous Difficulty: 1,755,425
New Difficulty: 1,689,334
Difficulty Change: 3.76% decrease
2011-09-13 Price: 5.95 USD per 1 BTC
2011-09-27 Price: 4.91 USD per 1 BTC
Price Change:17.47% decrease
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| Click image for a larger view |
Prices haven't been this low since before the Bitcoin bubble started in May. My prediction was a 3% drop in difficulty and a price in the 4.70 range. I wasn't too far off. Next difficulty should drop 3-5%. I dont see the price going that much lower than 4.70 or higher than 5.50. This could be the bottom of the value slide, but that is just pure speculation. Plan accordingly.
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