2016/10/04 8:03 AM
Bitcoin has undergone an impressive rise and is hovering at around the $611 mark. That’s about $7 higher than it was during our last price piece. However, if Kim Dotcom has anything to say about it, the bitcoin price will be much higher in the next couple years.
Also read: Analysts: Bitcoin Price Expected to Hit $848 Soon
One source explains:
“Volume has remained consistently high, which is a great sign for further continuation. We should see new highs this year should this pattern hold. Price remains at the lower part of the uptrend channel which gives us a favorable risk-reward ratio for entry on the lower trend line support. This week, we see a high probability of a breakout to the upside, with a favorable risk reward ratio. We can see that the Stochastic Indicator has printed a divergence when compared to the price trend. Usually, when this happens there is a good chance that it will resolve to the upside.”