Today we are noticing a a price breakout on Bitcoin, with a current price of $480.43 on Bitstamp. This comes after a long slippery downhill slope for Bitcoin over the past 5 months from $900 and it’s all time peak of just over $1160 on November 30th, 2013. This breakout may represent a trend reversal for Bitcoin on it’s way up to $1,200 per Bitcoin by July 2014 as predicted in my previous Bitcoin price analysis here...
The first possibility may be due to Bitpay raising another $30 million dollars in funding in order to expand their team, including a focus on international Bitcoin Trading. ...
Causes of Bitcoin Price Breakout on May 20th, 2014The author is predicting "$1,200 per Bitcoin by July 2014", which seems way too optimistic. A slower (more sustainable) rally might be better for long-term health of the BTC economy.
Well there are bulls and there are bears if I recall the October Rally took around 2 to 3 months to reach its peak but was followed by a long trough and stable period so it definitely could happen if the support and demand can sustain it.
The question though is if we are breaking out of the sideways pattern and moving up into a bull line
Bit speculative and way to early to tell but I disagree with the slow sustainable rally occurring but more of another rapid rise and new high then stable sustainable period again.
Although your right the stability does help when its around.
