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Market Snapshot – BTC Prices Continue Higher

Colin First
Updated
The BTC prices continue to trade in a strong manner after another strong showing over the last 24 hours

BTC Prices Higher

The BTC prices continue to move higher in a strong and steady manner over the last 24 hours and now are in the vicinity of its medium term highs. It has been a great comeback from the bitcoin market which had been down in the dumps over the last few weeks and had dropped to as low as $6000 just a few weeks back. Many were ready to write the end of the bitcoin story but it has survived purely due to the trust that has been placed in it once again by the traders and the investors alike. It looks as though the recovery would likely continue in the near future and then the regions of $12000 and $13000 would come into view in due course of time. The end of the holidays in China has had limited impact in the markets so far and it remains to be seen whether it will improve as time goes on.

Stocks Back To Full Liquidity

The stock markets spent much of the day yesterday in an aimless manner but it seems as though the full volume would be returning to the markets in the coming hours and we should see whether that is likely to push the markets up or down. The US markets would open again after the long weekend and this would ensure that the volumes and the volatility pick up again in the market. The stock indices around the world continue to tread in a cautious manner and it is likely that this trend would continue for the short term as the investors and the traders continue to size up the situation and see how they would be able to buy at this point of time. It is indeed going to be a difficult proposition for the traders to trust the falling market at this time and they would like to see a strong turnaround before they begin to invest with confidence again.

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This article was originally posted on FX Empire

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