Bitcoin has a tendency to spike on Monday and Tuesdays after a quiet weekend with little news. New money is flowing into the different Bitcoin-exchanges and people want more action. This time it is a bit special since it’s the little Christmas eve. I believe that Bitcoin might rise with more than 10% on Monday. And here is why I believe so:
There will be very little negative news about Bitcoin during the Christmas holidays. Governments (that can make most of the bad news) are off to their own holidays. People are in a happy mood where they want to see positive news. This will keep Bitcoin-fans and Bitcoin-businesses to push good stories on e.g. Reddit and Bitcointalk. There might even be some good news coming up during Christmas regarding Christmas related Bitcoin-stories.
As you can see from the graph above, the lowest price-level of Bitcoin looks like to be around 580 USD per Bitcoin. The Bitcoin trend seems to have turned upwards after hitting the low of 560 USD per Bitcoin late December 21st. Then it charged back up to around 660 to 680 USD per Bitcoin in mid December 22nd. Now we are back down to 614 USD which may be the lowest we will go this coming week.
My personal guess is that the Bitcoin-price will be 680 USD per Bitcoin or even more on Monday 23rd. We could be looking at a price above 700 USD as well. Now, let’s wait and see what will happen on the little Christmas eve. Have a great holiday and make sure to check out our new chat down at the bottom right.
What do you think of the Bitcoin price for this week?
This is a part of the Cryptocurrency Investment Club by CryptoCoinsNews.com.
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