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Topic: [2014-09-10] Bitcoin Price Forecast For The Week Ahead (Read 1097 times)

sr. member
Activity: 274
Merit: 250
As usual with forecasts, its inconclusive :-)

Exactly, pure speculation. I never pay much attention to any kind of price prediction as they're very rarely right, but people always like to keep guessing.
full member
Activity: 154
Merit: 100
As usual with forecasts, its inconclusive :-)
sr. member
Activity: 388
Merit: 250
http://www.cryptocoinsnews.com/analysis-bitcoin-price-forecast-week-ahead/

Firstly, looking at the Exchange Volume by Currency diagram (courtesy Bitcoincharts.com) it is evident that the bulk of combined exchange orders are transacted in Chinese Yuan.

This is significant because, as circled on the daily BTC-China chart (below); a 2014 record daily volume of buy orders had been traded at BTC-China on 21 August. Whilst not conclusive evidence that another low is impossible, this surge in volume is a sign that bullish sentiment was capitulated from that August low.
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