Yesterday at around 6pm EDT news broke that the SEC decided to reject all 9 of the bitcoin ETF's that were up for consideration due to lack of regulated markets and susceptibility to manipulation...

The market didn't take long to resolve out of the 5400 - 5800 $ trading range which we emphasized yesterday, and as expected the move ended up being to the downside.

Following two years of torment for bitcoiners that brought a bear market in terms of both price and sentiment, 2016 has turned out to be a good one indeed.

Over the past month, both the fundamental and technical cases for bitcoin have both strengthened significantly.

This past weekend we got some additional fundamental clarity on Bitcoin Core’s next software update, which will include the completed SegWit code ready for deployment.

As global market jitters and economic uncertainty continue to increase throughout 2016, we think bitcoin is in a unique position to capture the imagination of struggling populations worldwide.