Bitcoin Price Prediction for 3/14/2016
Mar 14, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC):
While Ether continues to suck all of the air out of the cryptocurrency room, the fact that bitcoin has been able to sustain its price above 400 $ is a hidden sign of strength in our opinion. Profits from a meteoric rise in the newly popular altcoin could very easily be sold for bitcoin, which in turn can be sold for fiat, which you would think would be putting heavy sell pressure on the BTCUSD exchange rate.
This is not occurring (yet), at least not in a way that is significantly effecting the market, which tells us that buyers are soaking up the supply at current levels, yet another indication of accumulation in this 400 - 420 $ trading range.