Bitcoin has been continuing to defy gravity.Today it jumped over 9600 USD.While this might seem like bitcoin is being adopted all over increasing its value day by day,according to me there might be a bigger picture into play here.
I think the bitcoin market is being manipulated by the big players.I might be wrong but yet let's see the pattern here.
-JP calls bitcoin a fraud,huge dip in prices and then a huge amount of purchase,about a million usd i think from one of JP's client.Furthermore JPM partnere with Zcash to use their blockchain tech.!!!
CME and the CBOE announce that they are gonna start trading bitcoins.Another jump in the value.
Amazon recently announced that its gonna accept bitcoin soon for shopping on their websites and boom btc has been on an uptrend ever since.
These are just a few points,there are plenty more if you research.
It's not gonna be long when some of the big player comes out and brands bitcoin as a scam again causing a downtrend.
Well it's not hard to see a pattern here.I might be wrong .I'll leave it up to you to research.
Good luck.
Happy trading.......