As April begins so does a new chapter for Bitcoin markets as the nightmare of the Winklevoss ETF fades with time, markets have returned to bullish natures as prices have gone from strength to strength recovering from dips within a matter of days. As reflected by current order books it seems that the price of Bitcoin remain stable as the amount being sold is around the 10% mark across a range of exchanges such as Poloniex. While the Ether and Ripple coin are currently being dumped for Bitcoin making up over 30% of trading volumes.
As seen below the markets have shown decisive growth over the past week with short intervals of market correction. Coinciding with the current Ripple sell off, Bitcoin markets have remained healthy but have decreased 1.06% over the past 24 hours as various cryptocoins such as Hunter Coin and Quatloo are experiencing brief but big pumps.
To conclude the recent price movements of Bitcoin indicate a stabilizing period as prices correct according to trading volumes. Currently this week was progressive reflecting the nature of Bitcoin s prices remained stable above the $1070 mark for the majority of the week. Prices as of the writing this article stand at $1130 which does indicate a depreciation of 1.06 % but analysts have given Bitcoin the buy signal in the short term at least.
Following trends, it is anticipated Bitcoin prices will fall slightly over the next 48 hours but will not breach the $1060 levels due to current support around this price point. This leaves ample time on deciding whether to purchase Bitcoin as predictions put $1135 as a potential point markets will reach by next week. Modest gains may not justify large investments but stability is assured as prices revolve around the $1070 mark as trading volumes currently stand at just under $500 000 000.