Bitcoin prices are stabilizing after the 2013 bubble. After a year of high volatility and a downtrend, the bitcoin markets are starting to mature with higher trading volume to support current prices.
$279-$280 may be a breakout zone for the next bull cycle. We've had a series of fake breakouts but prices continue to hold strong above $200.
The Wall Street adoption phase of bitcoin started in early 2015 with the announcement of the NYSE investing in Coinbase. Since then NASDAQ partnered with Noble Markets, the Bitcoin Investment Trust has been listed on the OTC markets, Genesis Trading has launched, Winklevoss ETF is pending and the BitLicense will be released.
Institutional investors will most likely be the catalyst for bitcoin's next bull cycle.
Comments
Cryptoelite
⋅
Hi there, great blog. I have enjoyed reading it for some time. However when looking at volume it might be an idea to use an exchange with no margin accounts. Just a suggestion. Please keep up the good work.
BTCcoinsultant
⋅
Thanks for the feedback, that's an interesting point. I'll look over some of the other exchange charts to for comparisons. Cheers!