Bitcoin Price Watch; Kicking Off A Volatile Week

We’ve had a pretty crazy few weeks in the bitcoin price space, and this has translated to some volatility in the effectiveness of our strategy. We have seen some macro events – the Brexit, politics in the US, etc. – and some micro shocks such as the ethereum hack and the Bitfinex freeze, and each of these has impacted the price of bitcoin in their own way. We were looking for some risk off sentiment towards the end of last week, and in turn, a shift to bitcoin as a risk off (safe haven) asset. We saw a little bit of this post UK referendum, as price recovered on its losses a little bit to pull back some of the losses it had made throughout the earlier half of the week. As the weekend action played out, however, this safe haven suggestion fell through a little, and price once again started to decline. Sunday saw midday lows of circa 620, the lowest price seen since mid last week. So, with this said, and as we head into a fresh week of trading in the bitcoin price, where are we looking to get in and out of the markets?

Read more ... source: TheBitcoinNews

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