Price Watch: Bitcoin Breaks $600
For the first time in three months, the price of bitcoin has surpassed $600 on the Bitstamp exchange. That's up over 7 percent in the past twenty-four hours and nearly 37 percent in the past month. As of this writing, we're looking at a price of $612 at the exchange. The spike comes following some huge buys on the exchange, which comes in the midst of new-found optimism following weeks on end of a minimal movement (as compared to bitcoin's price history, of course). It's unclear what in particular has caused this spike, but what is clear is that there has been no shortage of good news in....
Related News
Here's a look at what we are focusing on in the bitcoin price this evening. Action today has been pretty flat, and we’ve not had too much opportunity to get in and out of the markets according to the levels we outlined this morning. Price ranged sideways for the majority of the European session, and while we got the odd break, it didn’t last, and price returned to close back within the range before the candle closed out, so we didn’t get in on the break. It can be frustrating sometimes when we don’t get in on the breaks, especially when we see volume, but there’s a silver lining. When....
The European session is drawing to a close, and it’s heading into lunch time in the US. As usual, this means it’s time for the second of our twice daily bitcoin price watch analysis pieces, so here goes. First, we will have a quick look at what action threw out today, and then we can interpret this action and use it to try and figure out how we can approach this evening’s trading. So, to kick things off, take a quick look at the chart below. It represents action seen during the last 24 or so hours. As the chart shows, volume this morning was pretty low, and price action has remained well....
This afternoon’s analysis is going to be pretty straightforward. If you were with us a little earlier on this morning, and caught the first of our twice daily bitcoin price watch pieces, you’ll have seen our interpretation of last night’s action. Basically, and to quickly recap, we noted that the bitcoin price had reached its highest level in a while overnight, and as we edge up upon the 450 flat mark, we may see some consolidation, both as speculators take profits and as the psychologically significant levels weighs on bullish sentiment. Action has now matured throughout the morning....
Here's the range and targets we are focusing on for our bitcoin price breakout strategy on Wednesday morning. Yesterday was a little up and down in the bitcoin price. We saw a steep upside run early morning (before the European session kicked off for the day) and then a pretty ragged period of consolidation. By the time we published our first price watch analysis (a little bit later than usual) we were well into the consolidatory phase, and looked to set up a framework through which we could get in long if the bullish momentum returned, and things took another turn to the upside. We got a....
In our bitcoin price watch piece that we published early this morning, we highlighted the fact that it is a public holiday in the US, the UK and Europe, and suggested that this might have an impact on trading volume during today's session. We also noted, however, that just because we might see some low-volume doesn't mean we won't see any volatility - and as it happens - this has proven incorrect. We got some sharp movements during today's European session, and as we head into the US afternoon, what are the levels to keep an eye on, and where will be looking to enter trades? Take a quick....