Bitcoin Price Prediction for for May 13, 2016

May 13, 2016 --- (ARCHIVED) Free Reports

Market Commentary (BTC):  

While it has been a rather frightening start to this Friday the 13th in the legacy markets, the cryptocurrency space is anything but scary right now.  

First of all, ETH is on another hot streak as the DAO ICO continues to draw in new money, and bitcoin remains in a range-bound consolidation that in our opinion is the precursor to a breakout above 500 $.  Not only that, but sentiment remains rather poor amongst the trading community and the global macro environment continues to play right into bitcoin's value proposition. 

Despite the fact that the fundamentals are telling a convincing story for a rally above resistance in the not too distant future, we are still waiting for the short and medium term charts to sync up.  For more information, complete forecasts, ProTrade ideas, and Slack access subscribe today!