Bitcoin price has recorded $1900 for the first time ever since the launch of bitcoin back in 2009. According to data from Coinmarketcap.com, the 24 hour trading volume across the BTC/USD markets on various exchanges has already exceeded 167 million USD, by the time of writing of this update.
Many of the market’s observers, including myself, have expected bitcoin price to hit the $2000 mark before the end of the year 2017 and with today’s bullish rally, this target level seems to be happening soon enough.
Let’s examine the 4 hour BTCUSD chart from Bitfinex (look at the below chart). I plotted the Bollinger Bands for the chart to help us see where the market will be heading during the next couple of days.
Bitcoin price has recorded $1900 for the first time ever earlier today. A strong bullish wave is controlling the market at the moment, yet a downwards price correction wave is expected to take over soon, and we can see price drop down to the $1700s within the next 24 hours or so.
Chart from Bitfinex
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