Regulators reconsidering the ETF...do I think it will be approved? Probably not. Is this just an excuse for the price to rise? Sure. Price seems unstoppable amidst all types of bearish news events. Next stop $1450 or so.
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Weekly bullish engulfing:
Monthly bullish engulfing on the way:
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This whole time I thought we were in April 2013 as in the top after the rise to $250...little did I know we are basically there, but we are at the moment right before the big rise from like $50-$250. Silly me. Exciting times ahead.
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To everyone saying this is purely artificial rise due to the BFX situation and comparing it to gox...consider that A. Gox was one of the few bitcoin exchanges than and at times would dominate as much as 50-80% of the total bitcoin market in volume and B. In response to their problems they were running a fractional reserve ponzi scheme which arguably led to them losing over 500,000 bitcoins which I highly doubt is the case here, at least not at anywhere near that type of scale. Is the bfx situation likely one factor contributing to the rise? Yes. Are there other factors at play? Yes I believe so. Careful with your assumptions we don't know the exact reasons and how much each of them are weighted. At any given time there's always 16 different things effecting the rprice of bitcoin : )
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Monthly about to close well above ATH's:
Are you ready?