• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Bitcoin IRA
Nexo

Bitcoin Price Breakout Leads to $600, More Growth to Come?

Nick Marinoff by Nick Marinoff
6 years ago
in Bitcoin, Bitcoin Price
0
Advertisement

The bitcoin price has done it again! After much speculation, the price of everyone’s favorite digital currency has broken the $600 level, and for the most part, bullish trends are expected to continue.

Also read: Bitcoin Price Jumps to $590, Bull Predictions Coming True?

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin Price Set for Continued Rise

Image result for bitcoin price hikeOne source writes:

“Price is advancing above $600… It’s hard to conceive how the market will now reverse trend into decline. The declining scenarios mentioned during the past two weeks are negated by the massive volume required to push price $25 higher in a single candle. Ongoing advance is the most probable outcome.”

Another source agrees, and seems to believe that bitcoin will hit an even larger goal within the week:

“Indicators suggest that the market will continue its uptrend. Prices in the $625-650 range seem attainable in the short-term. The long-term could see prices move up towards $680-700 if trend lines are correct and bullish momentum keeps up.”

A few things are likely contributing to the rise. As discussed in our previous price piece, reimbursements by way of Bitfinex may have a hand in the price increase. However, one major contributor could be the new Brave Browser, which according to its website, “blocks ads and trackers, making it faster and safer than your current browser.” The announcement was recently made that the browser would implement bitcoin micropayments, allowing users to “tip” websites they enjoy and visit frequently.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Perhaps the biggest factors are thoughts of a potential recession spreading through Asia and Europe. Central banks are suffering from what one source is citing as “below-zero policy rates.” Negative interest rates are hitting banks throughout countries like Japan, Switzerland and Sweden. Meanwhile, in the States, despite the US Federal Reserve declining to comment, a mild recession stemming from these regions may be likely to hit the U.S. by late 2017.

Many could be looking at bitcoin as something of a saving grace; an answer to the financial problems some are set up to face. Could bitcoin help thwart another 2008? The idea is something to consider, and it seems traders and enthusiasts alike are taking the time to prepare.

And in light of everything, the possibility that bitcoin could drop once again is not entirely out of the ordinary, and analysts are warning us to stay alert. However, the do mention that should a bear scenario take place, results aren’t likely to hit us that hard:

“If we see a price decline, we will likely hit support levels in the $580 range. Lower floors of $560 are possible, but look inconceivable as of press time.”

Will bitcoin hit $680 soon? Post your thoughts and comments below!


Images courtesy of Bitcoinist, Nasdaq.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Nick Marinoff

Nick Marinoff

Related Posts

El Salvador

El Salvador, Unfazed By The Bear Market, Buys 80 Bitcoin – Will Others Do The Same?

11 hours ago
Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

1 day ago
North Korean Hackers

North Korean Hackers Suspected Of Perpetrating $100 Million Harmony Attack

1 day ago
Oslo Freedom Forum, Fode Diop on stage

3 Lessons From The Oslo Freedom Forum: Why BTC? Nabourema, Likhachevskiy, Diop

2 days ago
National Agency of Prospective Projects (NAPP) In Uzbekistan Green Lights BTC Miners

National Agency of Prospective Projects (NAPP) In Uzbekistan Green Lights BTC Miners

2 days ago
Short bitcoin

ProShares Short ETF Becomes Second-Largest Bitcoin Fund In Record Time

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.