We are detecting a possible impulsive rally for Bitcoin, which started on 21st of February after falling more than 92% and bottoming at 95 dollars. Impulses show the direction of the trend. If this is truly an impulse, the new trend is up. If this is the correct count, it will mean that Bitcoin is coming back, maybe even stronger than before. Should we expect prices to soar above 1300 in the long term?
“Mt. Gox, once the world’s biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at “a turning point,” sparking concerns about the future of the unregulated virtual currency.”
We are showing you this quotation to demonstrate the difference between the mainstream media and the charts. When the news express concerns, the charts are already showing the newborn trend. Which of the two would you listen to?