BTC/EUR could reach 550€
I think the BTC/EUR market could reach 550€ easily in near future, which is the 600$ mark in dollars. There is a channel that the Bitcoin price is locked in right now ranging from the low 500€ to the high 550€.
I don't know how much time the price will be bound inside this channel, but a rebound has already happened at the 500€ mark, and it looks like the price is climbing higher the past 5 days.
With this speed the price should reach the 550€/600$ mark soon, with the speed of about 2.12€ per day if we calculate from the first bounce at Aug 14. That should get us to 550€ in about 15 days, by the 5th of September.
Whatever happens it will be an interesting development, and it's an opportunity to buck some quick and small profits.
Disclaimer: This is not an investment advice, it's just my opinion and analysis. I am not responsible if you lose money!
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