There was some downward pressure at $666 already before the Bitfinex thing. The drop to $570 was a bit of an extreme reaction so we are certainly correcting.
I think the small amount of downward pressure is likely being eaten up by the 2 months of halved rewards so high $600s is likely this month. Followed by months of rising that is faster than before the halving. Barring any huge news that jumps or drops the price.
I think the small amount of downward pressure is likely being eaten up by the 2 months of halved rewards so high $600s is likely this month. Followed by months of rising that is faster than before the halving. Barring any huge news that jumps or drops the price.
Elwar do you think the effects of the halving will soon be taking place then? When I say that I mean a limited amount of coins on the market/exchanges which leads to a higher price?
All the price movement before/immediately after the halving was speculation, people panicking etc, trying to buy cheap coins.
What we should see now is a natural upwards price correction, maybe not as violently upwards but similar to what happened a month or three after the last halving.
After the halving I think the average climb will be around $20 per month while the average climb per month from the last halving to this most recent one was about $13 per month.
$20 rise per month on average would not be bad at all.