Bitcoin is now officially bouncing back! After such a bloodbath that occurred right after Bitcoin has almost won over the $5,000 wall and triggered further by the China ICO ban effect, we can now see and see that Bitcoin is already back for good...and it is about to get over the $4,500 hurdle (again!).
As I am writing this thread, Bitcoin is hovering over the $4,400 range and I am hoping that tomorrow or the day after it can be able to ditched the $4,500 psychological barrier.
Slowly, we are hearing less of the many prophets of doom and gloom and I am expecting that soon we can instead be hearing more of press releases coming from the other side of the isle: the prophets of boom!
Do you think we can be able to be back at $4,900 within this week?
I was just saying yesterday about Bitcoin's maturity and resilience, evidenced by how each "catastrophe" has only served to push Bitcoin back temporarily. If anything, this temporary is only getting briefer, allowing Bitcoin to gain fresh momentum to push for new ATHs. There is, however, still a voice at the back of my mind telling me that the long correction has yet to happen and will be nastier the longer delayed. But with this kind of recovery, it's hard not to jump on the optimism =)
I think we're in for a little consolidation at around 4,500 this week though. Still a ways before breaking - and staying above - that nice round 5k target. At any rate, anything above 5k before November will be a good cushion for possible bad outcomes. But go ahead and prove me wrong, Bitcoin.