Such a rise was to be expected, as discussed in our previous price pieces. The longtime sentiment among analysts was that bitcoin was preparing itself for a massive bull run, although no one predicted it would begin this early. Bitcoin has certainly surprised us with its rapid rise in price.
Some analysts claim they’ve felt the start of a bull run since late last week, and the results are certainly in their favor.
One source explained on Friday:
“Finally, some action. It’s taken until the end of the week to come to fruition, and it’s meant we’ve had a pretty boring week from an intraday bitcoin price trading perspective, but we’ve finally been given an entry opportunity… This means that… we are going to end the week up on the markets. Beyond that, as we head into the weekend, we’re looking for an entry on a slightly wider timeframe. We traditionally get some decent moves on the weekend, and this affords us the opportunity to widen things out and go for some sustained volatility profits.”
http://bitcoinist.net/bitcoin-price-bull-predictions/
