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Author Topic: [2016-10-12] Bitcoin's Price Just Got its Groove Back  (Read 313 times)
elyas772
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October 12, 2016, 12:28:18 AM
 #1

Bitcoin prices surged on 11th October amid what analysts say was a sharp change in market confidence.

The digital currency rose to as much as $639.97 at the time of report, roughly 4% higher than the daily low of $615.87. While not the largest of increases, however, the development followed several weeks where bitcoin traded in a tight range following the high-profile hack of Hong Kong exchange Bitfinex.

But the market is now recovering on stronger liquidity, Petar Zivkovski, director of operations for leveraged bitcoin trading platform Whaleclub, told CoinDesk.

After experiencing this period of sideways trading, bitcoin markets have "broken to the upside," bitcoin trader BTC VIX confirmed.

http://www.coindesk.com/bitcoin-prices-surge-as-market-confidence-returns/
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October 12, 2016, 06:55:34 AM
 #2

I was quite surprised when I saw the trend, I had always assumed lots of people would be selling their coins as the holiday approaches driving down bitcoin price.
The opposite happened!


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October 12, 2016, 11:16:27 AM
 #3

I was quite surprised when I saw the trend, I had always assumed lots of people would be selling their coins as the holiday approaches driving down bitcoin price.
The opposite happened!

The holiday season is far away... but people could be buying bitcoins to take advantage of offers like Bitcoin Friday.
It is tough to predict a trend, because speculators would try to take advantage of it, thereby negating it.


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