2016/08/29 9:00 AM
The bitcoin price is hovering around $573 at press time. That’s a two-dollar drop since our previous price piece. Not much has happened, and bitcoin is still residing in its current hovel.
Also read: Is the Bitcoin Price Slump Finally Coming to an End?
Preparing for a Major Bitcoin Price Rally
In our previous article, the notion of bitcoin’s slumping ways coming to an end was introduced. Sentiment across the board was that bitcoin’s sudden decline in price was on the verge of ceasing, and a sudden pull towards $600 was again a possibility. While the move hasn’t been made just yet, we must remember that large changes like this necessitate time, and we’re not likely to see a gargantuan increase in the coming weeks. Bitcoin will probably stay where it is for the time being and fully reinforce itself before once again climbing to the top.
Some analysts appear sure, however, that such a climb is set to take place. It may…