I'm Calling the Bottom

After putting in a low of $2.04/BTC on October 19th, Bitcoin's value has risen more than 50%. Additionally, seven of the last eight trading days have ended in the green on decent volume, and it's looking like we may hit eight out of nine.

With those facts in mind, I'm going to go ahead and call the bottom.

Bitcoin has faced some serious adversity since the June high. We are now in another quiet accumulation phase, and poised to steadily move to the upside in the coming months.

The media has called the death of Bitcoin, so there's really nothing more for them to do but leave us alone to develop Bitcoin's infrastructure. It's almost a relief to be out of the spotlight.

Posted in: trading