Bitcoin Prices Inch Forward Amid International Acceptance

The current Bitcoin markets have been at their most volatile yet. With the year barely getting into full swing it seems as if the Bitcoin prices and markets have raced ahead. With Bitcoin prices jumping $2 – $20 a day on some occasions it may be time for Bitcoin to, as they say it, head to the moon…

Currently the Bitcoin prices stay firmly at the $270 mark which has been held for 3-4 days. This stability has also allowed for growth as the prices of Bitcoin have been inching up daily touching the upper $280’s on multiple occasions. However it has been highlighted that there a multitude of reasons which have been attributed to the recent Bitcoin price rise. With many hailing Kim DotCom as the catalyst for this reaction some also believe the current Chinese involvement may have been key to the surge in prices. With many claiming China is back in the mining game, we will have to wait and see what new prospects this super power has for Bitcoin.

Bitcoin prices are also forecasted to move up the scale with the current Bitcoin auction via the marshals service attracting plenty of attention. However the movement could also go the other direction as the intentions of the bidders are unknown. With some genuinely appreciating the technology others simply consider this a chance to get their hands on cheap coins. Cheap coins to dump on the market…

Currently Bitcoin prices are moving in the positive direction with small but frequent jumps being seen at regular intervals. With the price starting the day at a price of $269 highs of $280 were seen earlier in the day. However after a small bout of resistance and market correction, the Bitcoin prices toppled to $273 ultimately netting some growth.

Speculation

With bitcoin prices edging closer and closer to the 300 mark, it may be only a matter of time before global market capitalization occurs. With many country’s including China as of recently giving Bitcoin full recognition as a currency, interest and money flowing into the markets has flared. With the United Kingdom giving Bitcoin the thumbs up and other countries in Eastern Europe firmly shaking hands with cryptocurrencies such as Bitcoin, prices may have the momentum and sentiment needed to increase investor confident and ultimately raise the prices of Bitcoin. Current market indicators display a strong upward trend with most exchanges showing low resistance upwards allowing for a easy move up. However with the Bitcoin markets are currently in a extremely volatile state and margin trading isĀ ill advised unless order books will allow you to hold short positions on multiple exchanges.

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