Over the past 72 hours Bitcoin has seen a huge run in prices pushing upper limits to figures of around $1007 flirting with highs seen earlier last month. Positive movements were aided by recent events in china as tests to implement crypto had finished recently successfully.
As seen in the graph below the current week began with prices stable around the $920 for the majority before the current rise of 2.2% to current levels. The past 24 hours have also revealed significant growth as prices briefly dropped to $985 earlier today.
Future projections put prices to increase 1-2% over the next week following up from current movements which indicate bullish sentiment. Predictions put Bitcoin prices back at the $1000 mark within the next 72 hours as current trading volume stands at around $140 million increasing by 1% on average every 24 hours. A quick look at open orders across a number of exchanges compliments current predictions as support is present at the $960 range with solid support at the $920 mark much tougher to break.
To conclude Bitcoin prices have recovered from the recent dip and looking extremely healthy with possibilities of hitting the previous all time high firmly accessible. Amid a flood of positive market movement, investors have attributed the increased recent adoption to the health market movements. Efforts from Switzerland to increase Bitcoin development and the fact the cryptocoins remains unphased as the Arab Bank placed measures to make virtual currencies illegal but in recent developments clarified Bitcoin and cryptocoins immunity.
