At press time, the price of bitcoin is unchanged and still lying within the $ 6,200 range where it’s remained for roughly 72 hours.
Many analysts had predicted that bitcoin’s sudden “stability” would in turn lead to bullish behavior. After all, the coin was remaining at $ 6,500 for several days, and it appeared things weren’t likely to change in the immediate future. At the same time, volatility was down, and the currency was showing strength and maturity in the face of an ever-changing market.
David Drake – founder and chairman of LDJ Capital – commented in a recent interview: