Bitcoin Price Appears Set to Test $650 Level

The price of bitcoins in U. S. dollars has been increasing steadily and solidly in the run-up to Christmas. While prices never move linear in only one direction and price fluctuations, or prices “taking a breather” are a possible and — indeed — normal to happen, the recent move of Bitcoin may well be part of a larger upward move to roughly the $650 to $660 area.

After its record highs around $1147 in late 2013 and subsequent downward period, the Bitcoin price is expected to post a half-way or 50-percent-level mark as its next bigger target. That mark would be around $658 and appears to be the medium-term target at the time of this writing.

Whether this will be a smooth ride or a rough one remains to be seen and depends not only on technical indicators but also on fundamentals outside the Crypto coin world that could trigger the next moves and finer-grained steps along the way.

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