Over the past 48 hours, bitcoin’s fiat value has risen exponentially with the price on a ramp towards US$800 per BTC. Currently, at press time the price is averaging $745. If it reaches $790, it will peak past this summer’s high before the Bitfinex hack.
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Bitcoin Price Value Bumps Push Upwards
On November 17 bitcoin touched $750, making the total bitcoin market capitalization just above $12 billion.The price has dipped a touch and is slowly working through heavier resistance at the moment. Technical indicators show on both the 100 Simple Moving Average (SMA) and 200 SMA that the price will keep testing higher. Unless selling pressure picks up, the price could very well crest towards $790-800 per BTC in the next few days.
Looking at the Weekly View
This week has been perfect for intra-range traders and those who