Daily Bitcoin Price and Market Update - Still Looks Weak

Daily Bitcoin Price and Market Update - Still Looks Weak

I trust a few of my readers profited from my suggestion to short the market the day before yesterday. The Bitcoin Price has been timid due to the still unrevealed price that 50,000 BTC were sold at in the recent USMS Bitcoin Auction. Even with that in the background, our technical analysis still holds. Let's recap why we made that call: As you will recall, at that time we saw: - That it was an "energetic time", what some call a Fib time zone. - The market had been stopped by an arc of resistance (2nd arc) and the top of the square, for two days. - That same 2nd arc stopped the market dead....


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Daily Bitcoin Market Price Update: Bull Market In Sight

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Analysis: Bitcoin Price Forecast For The Week Ahead

The majority of market participants are still uncertain that the decline is over. In last Wednesday's Bitcoin Price analysis update it was speculated that Bitcoin may be in its fifth month of advance. Additional evidence of an ongoing advance is discussed below. Daily Bitcoin Price Chart. BTC/CNY Volume. Firstly, looking at the Exchange Volume by Currency diagram (courtesy Bitcoincharts.com) it is evident that the bulk of combined exchange orders are transacted in Chinese Yuan. This is significant because, as circled on the daily BTC-China chart (below); a 2014 record daily volume of buy....

Quotes

At first, I only saw the negative headlines about Bitcoin and thought it was some sort of unserious speculation bubble. Then I read up on it and understood that it has the potential to change the world. And when I realized I could order pizza and pay in Bitcoin, then I was all for it!

Mathias Sundin, Deputy mayor of Norrköping in Eastern Sweden, a member of Swedish Parliament