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Author Topic: [2016-09-14] Weekly Price Analysis: Bitcoin Gets Love From Apple And Breaks $600  (Read 270 times)
Nina Lyon
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September 14, 2016, 05:53:48 PM
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September 14, 2016 - Apple embraces Bitcoin technology, permitting Circle to integrate Bitcoin payments with the iMessage app found on iOS devices. Bitcoin breaks the $600.00 mark and is maintaining that position.

The price of Bitcoin is now hovering above the $600.00 resistance from last week. Apple now approves of Circle wallet’s application, allowing them to integrate Bitcoin payments directly into iMessage. This could indicate increasing adoption and acceptance of Bitcoin technologies and utility for more users around the world.

“This is a good first step. It would obviate the need to have a third party card issuer like BitPay et al and their bitcoin backed Visa/MC [MasterCard],” said David V. Duccini, Executive Director of the Strength in Numbers Foundation.

Bitcoin returning to the price level it had prior to the Bitfinex hack

Bitcoin managed to rally to a high of $630.00 before sharply paring back its gains, settling down at the $608.00 point. CoinIdol.com reached out to Alex Matanovic, CEO of Serbian Bitcoin exchange, for his take on the situation:

“I am not surprised by the current price of bitcoin, I didn't expect it to be higher than it is... ok, maybe a little bit higher - which would probably be the case if Bitfinex wasn't hacked. As for this rise over $600, the price is slowly coming back to the level we had prior to Bitfinex hack (around $650).”

Some traders had indicated earlier in the month that the sluggishness in the Bitcoin price could continue for the rest of the month. David V. Duccini shares his point of view as to what is keeping the price of Bitcoin from taking on a more bullish stance.

Find out more here: https://coinidol.com/weekly-bitcoin-price-analysis-btc-gets-love-from-apple/

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September 14, 2016, 07:52:18 PM
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As for this rise over $600, the price is slowly coming back to the level we had prior to Bitfinex hack (around $650).”

the Apple thing is a good news but for the price it is a little bit complex
the bitfinex hack had damaged the bitcoin price and its recover helped it rising but we are still $40 away from the previous one Undecided

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September 14, 2016, 07:53:45 PM
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It has nothing to do with Apple and the Circle integration into iMessage. The price is just recovering from all the Bitfinex negativity that we have gone through. That however doesn't mean the Circle integration isn't a good thing. I only don't know whether or not people will really use it in combination with Bitcoin. We will only find out if it will be a successful move when Circle comes up with some numbers after 3 or so months.
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