It has been a while I have said anything about Bitcoin. I am sure some of you now know that Bitcoin on Bitfinex has gone over the $6000 mark! As you can see from the chart, the upward trend looks very strong. This trend is also backed up by volume. The Vortex Indicator also shows sign of increased strength to the upside for Bitcoin. I suppose we all knew that Bitcoin would hit the $6k someday or the other, which should come as no surprise. Surprisingly as I write, Bitcoin on Coinbase, Bitstamp, Bittrex, and Gemini have all fallen below the $5700 mark. Perhaps one should not be surprised considering that Bitcoin has had 30-day volatility of 18%.
Next price target for Bitcoin $6608. We only consider this price based on the increased strength of the uptrend. We must remember it took Bitcoin quite a while to break the $5700 - $5735 price mark. We are most likely to see something similar before its price rise to $6608. When considering the FOMO (Fear of Missing Out), greed, and of course the volatility, one can never be sure as to what is going to happen next. But then again, your guess is as good as mine.
Do you think Bitcoin will rise to $6608 next? What do you think? Let us know in the comments section.
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