Bitcoin
gained $1200 within 24 hours on March 12th as the markets shake off this
weekend’s slump that was below $8500.
Information
from major exchanges including Bitfinex,
Coinbase, and Bitstamp placed Bitcoin/USD at about a 4-day high of $9810.
The
upside, amounting to a cost increase of 15.5% since Sat., continues Bitcoin’s pattern
of behavior that traders have witnessed since Feb.
Moves
downwards and upwards between about $11,800 & $8500 - with an exception of
one short dip to $5900 - defined BTC/USD within recent weeks.
According
to analysts, further sustained uptick could only be possible if the markets
cleared substantial resistance about $12,000 and closed at just above $12,400.
Last
week news that trustees with Mt. Gox were selling massive Bitcoin quantities to
reimburse creditors changed the outlook, but as it emerged all sales triggered
price reductions around international markets.
Stock
of coins isn’t fully sold yet, with the idea of repeated fluctuations in the near
future.
However,
in the cryptocurrency industry, bullish sentiment is strong.
Tom
Lee, a Fundstrat Global Advisor, who is notorious for championing BTC, uncovered
‘Bitcoin Misery Index’ on March 9th, a tool that flashed ‘buy’ signals to
markets and rapidly witnessed the start of the 15.5 percent rise.
Lee
when speaking to Barron’s the day of the release,
was calmly discussing the Mt. Gox issue, said that it is a temporary concern; but
it does not change anything.
The
club's goal is to bring the funds net value for each unit from $1000 to $2500
at the end of each six-month period. Naturally this is NOT GUARANTEED, however,
with all happening in the cryptocurrency markets its very feasible our Club's
Management, with their daily research, super associates and consultants
spectacular track records, can make this goal or even do BETTER. But it’s NOT
GUARANTEED. ONLY THE ORIGINAL $1000 is.
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