Allthough the price increase has been not that important (30/35$ or 3-3.5 %) it is significant for the further evolution of the price, in my opinion.
The maximum of the last couple of weeks was around $935-940 depending on the exchange, and this mark seems to have been broken now. Higher highs indicate a continuation of the bullish trend. And the price didn't instantly dip again below 940, so we can describe it at least as "somewhat sustainable".
My prediction is that we will at least see a "try" to break the psychologically important $1000 mark again. However, I'm not sure if this will happen. There is too much fundamental uncertainty now because of the blocksize debate. For now, I don't see a new ATH in the making. It may be best for the long term evolution to stabilize between 780 and 1160 - the current level looks ideal for it - and then climb again when the blocksize problem is solved
The maximum of the last couple of weeks was around $935-940 depending on the exchange, and this mark seems to have been broken now. Higher highs indicate a continuation of the bullish trend. And the price didn't instantly dip again below 940, so we can describe it at least as "somewhat sustainable".
My prediction is that we will at least see a "try" to break the psychologically important $1000 mark again. However, I'm not sure if this will happen. There is too much fundamental uncertainty now because of the blocksize debate. For now, I don't see a new ATH in the making. It may be best for the long term evolution to stabilize between 780 and 1160 - the current level looks ideal for it - and then climb again when the blocksize problem is solved
That may well be a nice bull trap
Just as I said recently (and always repeat), the price doesn't stay at the same level for long, it will necessarily move somewhere with the big push after the calm. But today's surge looks suspicious to me. It feels like the market makers (aka the price manipulators) are trying to persuade folks into panic buying while in fact they may be preparing a heavy dump to lower 800s
Bulls should get ready for massive slaughter
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