If you see Bitcoin as a “flight to safety” play, then by all means buy it. The fact there is no regulatory support, no yield, variable and usually high transactions costs, limited acceptance, limited protection against cyber-theft, ever increasing supply of competing cyber coins, and most of all no airline miles, you not allow yourself to be disuaded from taking advantage of all that Bitcoin has to offer.
bitcoin seems nutty to me, but the way it performed on monday, actually rising, is weird and impressive.
A surge? Picking up steam? Really .... I've been off-screen for a week and it's down from 8500 to 7300... I think you've got your charts upside down...
So did the market. Lately the market and BTC are moving together, so no to the idea. Strangely the market's chart is also very similar to BTC's just with a month delay.