Bitcoin Ecosystem Maturing Amid Price Pressure
This article will run through some key findings from the new report, which focuses on data and events in the third quarter of 2014 up to the present day.
Overall, this quarter could be characterized as a Tale of Two Bitcoins.
On the one hand, significant bitcoin venture investment continued and much progress was made in furthering adoption, particularly in bitcoin’s use as a medium of exchange.
On the other, there was a steady erosion in the price of bitcoin throughout the quarter (Slide 10), which was further punctuated by a sharp plunge of roughly 20% at the start of Q4.
In the media business it is often said that bad news sells more than good, so perhaps the fact that bitcoins price fell nearly 40% in Q3 helps explain the greater relative interest in price in the most recent quarter.