Last week’s bitcoin price report signed off with this forecast:
“This week bitcoin is bearish in the immediate short term, with targets for a low rebound at $400, and an allowance to $385.”
This week, bitcoin markets moved precisely as forecast, down to a low $382 on Bitstamp. The price grad...
In the recent weeks and days there have been quite a number of reports painting the picture that delay in confirmation of transactions is not only on the rise, but it is also fast becoming an endemic problem in the Bitcoin ecosystem. Some users have indicated that they have experienced delays that extend to days.
This week the price of bitcoin retraced from last week's temporary high at $451, moving down to a low $410 on February 23. As of writing this, the market sits at $438, a local top dating back to $410. Price has been gradually creeping up an upward sloping trend line, attempting to retrace the $40...
In the weekend of 21-22 February 2016, a Bitcoin Roundtable meeting took place in Hong Kong. The meeting came before the Satoshi Roundtable 2, which is scheduled to take place this weekend (Feb 26-28).
In attendance, to the Hong Kong meeting, were representative of miners holding up to 80% of the hash power, core developers and entrepreneurs from the Bitcoin ecosystem.
Since last week’s price report, bitcoin went up 12% to $448, but is now trading at $435 on Bitstamp as of writing this. A correction from the top was only natural at this level.
At $400, consolidation lasted a couple of days, before breaking out on February 17, and taking off to the next significant resistance level at $420. Similarly, here, the trend was intent on recapturing highs, and did not take long consolidating before breaking past the January 18 spike resistance in a series of consecutive green candles.