[2014-09-10] The Prospect Of An ETF: Another Reason To Buy Bitcoin

[patricktim]

http://www.nasdaq.com/article/the-prospect-of-an-etf-another-reason-to-buy-bitcoin-cm388336

The obvious answer is “nothing”; nothing has changed regarding the long term drivers that made the trade viable in the first place and neither of the initial targets, $660 to the upside nor $390 to the downside, has been reached. The lack of follow through on that initial move up is somewhat worrying, but the formation of some pretty solid support at these levels suggests that upwards is still the path of least resistance.