Bitcoin Price Report for June 17, 2016

Jun 17, 2016 --- (ARCHIVED) Free Reports

Market Commentary (BTC):  

What a wild start to this Friday morning!  The cryptocurrency markets are in volatility mode, particularly the major altcoins, due to a hack of the DAO project.  This caused BTC, DAO, and ETH to plummet overnight, DAO down 65% at one point and ETH down to 0.017, but all are now attempting to recover some of those losses as solutions are now getting tossed around. 

That said, the proposal for an ETH hard fork to revert the funds back sounds like a recipe for disaster, so if they do this we expect to see money bleed back into bitcoin from these other smart contract projects.  This should be quite bullish for bitcoin, but we will have to wait and see.

Regardless of what happens with the alts, the bitcoin technicals continue to be bullishly biased...  For the complete forecast, ProTrade Ideas, altcoin coverage, and daily analytics SUBSCRIBE today!