Bitcoin Price Analysis – 12/20/2016 Edging Towards $800 Mark

This year has been the most successful for a while for Bitcoin in terms of development and integration. As we look back on a fairly eventful year we can also sleep easy as Bitcoin prices grow further and further towards the $800 mark.

 bitcoin price this week

As seen in the graph above Bitcoin prices have remained afloat and constantly growing reflecting increased positive sentiment. Currently the market cap is the same as it was during the previous bubble however the lower price suggests the slow and stable growth is unlikely due to a bubble. Prices have jumped around $10 over the week to current prices of $792.

To conclude, while the digital currency has had a tough year with ups and downs next year has plenty on store for investors and traders as the hopefully completion of projects from the R3 consortium should see Bitcoin adoption increase hugely in the African region. Currently Bitcoin prices are set to increase to around $795 and remain stable for at least 48 hours judging by the level of support at the current position across a number of trading books. Volumes also indicate long term growth and analyst would also give the coin a strong buy as current growth conditions allow for a week of stability at the least.

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Disclaimer! Trading and investing has an inherited risk and you should never invest more than you are willing to lose. Any financial loss from financial advice administered is not responsible on the site or authors behalf.

Written By

Hi I'm Aleppo Allesadero a experienced bitcoin user and educator. Having worked for over a year in the bitcoin journalism ive seen bitcoin grow from strength to strength asserting its power against fiat currency. Hopefully you too can learn about this exciting new prospect which may help transform the way we see finance and economy on a daily basis.