The Bitcoin price has bounced back strongly after it's recent wobbly following the apparently fake PayPal 'Fear, Uncertainty and Doubt' FUD attack last Friday with the price recovering from a recent low of $7,350 to currently stand at $8,400, that has the Bitcoin community breathing a huge sigh of relief believing today's rally to mark the end of the pain of the past 3 months that has witnessed the Bitcoin price collapse from a high of $20,000 to a low of $6,600.

The mainstream media as always look in the rear view mirror to make a headline fit the price movement AFTER the fact. Such as that the rally was due to Mark Carney telling the G20 that Crypto's don't pose a risk to the financial system via a letter from from Argentina's Financial Stability Board, Argentina ? They periodically have to use wheel barrows to use their currency to buy groceries etc...

So is this the start of a recovery for the Bitcoin price back to $20k and beyond? Or is it merely the calm before the next leg of the bear market storm that could see Bitcoin revising the bear market low of $6,600 and worse. Find out in my latest bitcoin price forecast video update.

Ensure you are subscribed to my always free newsletter and youtube channel for my forthcoming in-depth analysis and detailed trend forecasts.

By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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