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Thursday, April 12, 2018

Bitcoin explodes! Price gains $1000 in just 1 hour - what to watch for next...

Bitcoin and altcoins are in the middle of a powerful rally today - with Bitcoin 's value jumping up by over $1000, all in less than an hour.

While a rally is always good - a rally isn't always recovery.  Here's what to look for next.

First - will it hold above $7500 for over 24hrs? This is a sign of support and stabilization investors are watching for.

Then only after market stabilization, can true market recovery begin.   If the above happens, and is then followed by Bitcoin breaking the $8500 resistance marker - we can officially consider the cryptocurrency markets in true recovery and rebound mode.

So far so good though - the market has held steady throughout the day, and we're about half way though the first of these two key steps.
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Author: Ross Davis
San Francisco News Desk