This is a great time to be alive! The Cubs won the world series, a women almost won presidency, and Bitcoin is rising above 700. So many monumental events taking place in America over the last few months its amazing. How has all this affected Bitcoin though? The Big bad digital currency is now above 700 and i believe is finding support at 710. If this is true i would say now is a good time to invest. Lets check the chart and see what we can find out from the last 24 hours.
Due to the uncertainty of the US election the markets have been stagnant some not moving at all. After Trump got elected the price shot up to 720 and as you can see from the red line on the chart the price slowly fell to 700. Since early this morning we have been seeing an uptrend to the current price of 710. This time when Bitcoin dropped it did not fall below 700 like it did previously. What does this leave me to believe? That Bitcoin has found a new low resistants of 700 and should not fall below that number again for awhile. I would say if you caught it at 700 hold onto your coins. If your looking for a good time to invest your cash i would wait for 705 701 to come around again and buy and hold.
We are a few days away from the scaling code being applied to the block chain. We already know that means we will see an increase and that translates into a good trade. When it comes to crypto currency im doing my best to keep you guys updated. If any of you have invested please share your experiences with me and with the community.
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