Let’s see.
The bitcoin price is now up by approximately eight percent since the beginning of the week. At press time, the currency is trading for over $8,800, and $9,000 by Monday seems like a done deal granted bitcoin can keep up its current momentum.
Frank Cappelleri – executive director of institutional equities at Nomura Instinet – predicts that the currency is slated to go much higher, and will likely strike $9,173 in the coming days.
In addition, over 60 percent of analysts – according to a poll conducted by Tom Lee – feel that bitcoin could break $12,000 by the time summer rolls along.
“Large hedge funds have entered with deep pockets and strong hands,” says John Spallanzani, a portfolio manager at Miller Value Partners. “All positive signs.”
With all of these positive signs we can expect a good market gesture in the coming days.
And yet mining is once again looking profitable!