[2017-03-02] Bitcoin’s Rocket Boosters on Full Throttle as Price Skyrockets

[TwoTimes]

The price of bitcoin has once again crossed another all-time high reaching an average of US$1240 across global exchanges. Bitcoin’s value has met parity with the price of one ounce of gold and has also beaten the December 4th, 2013 Mt. Gox ATH price.

Technical indicators show sellers are keeping things interesting giving room for intra-range and day trading techniques. At press time the 100 Simple Moving Average (SMA) and 200 SMA show a significant divide signaling the possibility of more upswings from buyers. The Relative Strength Index also shows bullish conditions may continue as momentum builds. In other countries, bitcoin price spreads are higher than the global average which shows strong demand. For instance, the South Korean bitcoin exchange Coinone shows an average of $1280 per BTC but one quick price spike brought the price to $1880 USD around 14:30 Beijing time.

Read More Here: https://news.bitcoin.com/bitcoins-rocket-boosters-on-full-throttle-as-price-skyrockets-to-new-ath/

[richardsNY]

I strongly believe that as long as we have the approval date ahead of us, we'll continue to see the price go up with current speed. If the ETF gets approved, then we most likely can add another $100 on top of the price by that time. If the ETF will not get approved, then the market will take a step or two back. I just hope the $1000 level will be strong enough to maintain its position.