Analysts: Bitcoin Price Expected to Hit $848 Soon
The bitcoin price is hovering around $604. That’s another two-dollar rise since our previous price piece. Nothing to get terribly excited about, but hey – every step counts.
Also read: Bitcoin Price Volatility Exciting Bulls, Rally Still Expected
Analysts Forming Consensus on Bitcoin Price
Viewing the evidence, it would appear that bitcoin’s present shift to higher ground is undoubtedly occurring in incremental stages (a few dollars at a time). On the plus side, most analysts seem to be unanimous in the idea that bitcoin is again prepping for a massive bull run, and is about to take a long, and much needed vacation up north. One source explains:
‘Bitcoin price continues trading above $600 and 4,000 CNY across exchanges. Price action and market momentum are slowing, as bitcoin price typically does prior to a strong directional move… The one-day and three-day charts remain in bullish mode.’
This post was published at Bitcoinist on 2016/09/29.