Bitcoin prices this week have remained fairly stable in the past few days but jumped up considerably. Prices started at a humble $986 point earlier this week to hover close to the $1050 mark currently seen. Recent stability fuelled by the increased trading received from various countries such as Nigeria and the UK has contributed to a significant proportion as Chinese support falls away. As discussed previously, the sec has also had a sentimental boost as many consider that it will become the killer app for the coin.
As seen in the graph below the Bitcoin prices have hit lows of $980 earlier this week but peaked at $1056 on the 18th. However the receding movement reflected by market correction has set the value just under $1050. Analysts currently project the prices to move to $1042 within the next seven days amid the fall in trading volume seen over the past few days as it fell from $79 465 000 to just above the $79 million mark.
It is advised, that users allow a 5% stake of Bitcoin to remain within their trading portfolio is not only to add variety but also as prices recede; a fantastic opportunity to purchase Bitcoin at cheaper prices is presented. A long term forecast places prices at $1070 within 2 weeks and lows of $1035 will be likely to appear but not broken due to the reasonable support seen at this range on some exchanges.
You can purchase Bitcoin via the NairaEX exchange and have it delivered within a matter of hours as NairaEX is Nigerias leading Bitcoin exchange !
Disclaimer: The views expressed in this article are solely of the authors and bear no representation to those held by BTC.NG. Please trade responsibly as losses can often exceed deposits and cause financial loss.