Digital currencies bullish move after scary free-fall.
Since the uncertainty has settled for now, Bitcoin is constantly moving upwards smashing old resistance levels.
In the last five days we have seen a real marathon for Bitcoin, with price going from $1800 range to $2700 today. This being an increase of almost $1000 and getting close to it's all time high. The market capitalization went from about $68 billion to $91 billion from which Bitcoin makes nearly half of it, respectively $43 billion.
This sharp increase is sustained by a spike in trading volume with lots of capital moving from altcoins back into Bitcoin.
A chart of Bitcoin price evolution and volume can be found here: https://coinmarketcap.com/currencies/bitcoin/
Goldman Sachs is estimating that the $3000 level can be tested soon and if that happens, it could go as high as $3700, but as we all know things can be different in reality. However, it is interesting how Bitcoin is getting more and more attention even from main stream which was always skeptical and conservative in rapport to it.
Let’s see what the next move will be. Certainly next week will be interesting to watch.
Time to gamble ladies and gentlemen! Which way will the market go? Its anyone's guess but I say its going up!
At least for a while :)
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