Yesterday’s resistance broken
Bitcoin has succeeded in breaking through a pretty solid resistance level of 234.394 setting our next target as high as 237.320 USD per Bitcoin.
New York Stock Exchange Influence
The news from a few days ago where the NYSE announced that they will begin monitoring the price of Bitcoin, has greatly influenced the current price increase. The reason is simple enough: traders believe that if NYSE is monitoring the price of Bitcoin, it has to be worth investing in. This has already resulted in the overall increase of buyers versus sellers because new investors, who have previously stayed away from Bitcoin, are now jumping in just to get a piece of the pie.
We can’t be sure how exactly all this plays out, however, for the time being it’s very likely that we are going to see some serious bullish movement for BTC/USD. Just imagine all of the “old school” traders who used to stay away from Bitcoin now beginning to question their beliefs. It’s definitely going to be one hell of a ride we have ahead of us in this summer 😉
This post was written by ynef