The Bitcoin price’s return above $400 is a sign that traders are confident in Bitcoin again.
The advance from $275 looked like it would inevitably turn down – as it had on so many previous occasions during the decline.
However, last night price touch the critical $400 level in the Bitstamp chart, retreated for a run-up and finally broke through the $400 price level midway through the Asian trading session.
At the time of publication Bitcoin is trading around the $400 price level and looks set to continue higher once it has completed a small degree correction.
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The writer holds a small amount of bitcoins. Take care when trading a volatile market like the Bitcoin price. CCN accepts no liability whatsoever for losses incurred as a result of anything written in this Bitcoin price analysis report.
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Bitcoin price charts from TradingView.
Images from Shutterstock.
Last modified: October 14, 2014 15:14 UTC