Bitcoin’s price is about to break out in what commentators expect will be a “big move.”
Excitement among the cryptocurrency’s online traders is building Monday, as weeks of comparatively flat price action look to end soon
Bitcoin has been trading on average between $2,400 and $2,800 since June 16, a considerably less volatile period to that which preceded it, according to data from Coinmarketcap.
Now, however, talk is growing of the virtual currency breaking out of its current triangle to set a new trend - up or down.
Short-term investors have been largely focused on altcoins such as Litecoin in recent weeks, with Ethereum having dropped and remained below $300 due to a turbulent bout of volatility at the end of June.
The tips are once again swinging to focus on Bitcoin, with even veterans such as WhalePanda hinting increased exposure to it over altcoins.
The upcoming SegWit activation deadline of August 1 is in itself expected to produce more volatile price performance for Bitcoin, yet it remains to be seen in which direction its value will trend.
Big pocket investors are dreaming with a bitcoin dip to enter heavily with a big position. In the case of an actual price crash, it will get bought up fast so it will not last. Everyone that has doubts about bitcoin should buy the dip as soon as possible and don't gamble.
Bitcoin is not going anywhere. Don't fall for the chinese cartel FUD. Just keep your bitcoins in a local wallet and in the rare occasion of a contentious hardfork, dump your forked coins to get free real bitcoins.
