For the past three weeks bitcoin remain a little bit above $6,500 and there is no effort to push above $7,000. I believe that the next breakout may create another market directions that should push bitcoin above $10,000 if the breakout is bullish or dump it to $5500 area. I will like to know your view if bitcoin will get to $10,000 this year again.
It just doesn't seem like a a breakout to the upside is more likely than a breakout to the downside, there has been so much positive news coming out in the past few months that literally does nothing to the price, it just keeps going sideways.
In the article below you can see the good news the hedge fund manager list out that has done nothing to the price, there is just little to no speculative volume that the price of bitcoin will go up in the short term.
http://www.thecoinrepublic.com/hedge-fund-mgr-says-bitcoin-will-see-10000-raise-in-its-value-this-year/On the contrary, and I hate to say it, but there seem to be people drooling at the opportunity to short bitcoin at the moments notice of any kind of bad news.
If we get any kind of bad news for ETFs or some popular big wig executive to state publicly that bitcoin is bad I would look to see the recent spike to 6600 be whipped away very fast.