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Poll: What Will Bitcoin's Price Be At the End of 2015?
Answer our quick poll to share your views on what the price of bitcoin will be by the end of 2015.
By CoinDesk
Updated Sep 14, 2021, 2:00 p.m. Published Nov 2, 2015, 2:07 p.m.
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On Friday, the price of bitcoin reached its highest level so far this year, peaking at $333.75 on the CoinDesk Bitcoin Price Index.
The price opened the day at $313.31 before rising 6.5% to $333.75 at 08:16 (UTC).
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Industry insiders put the price rise down to a number of factors, with Bobby Lee, CEO of bitcoin exchange BTCC, citing recent positive news events as being behind the movement.
Academic Robert Viglione suggested the price increase could be due to Chinese citizens moving more of their wealth into cryptocurrencies as their government tightens capital controls.
Whatever the reason, the bitcoin community is largely welcoming the rise, but what next? Will the price continue its upward movement, will it plateau or will it fall again?
Answer our quick poll to share your views on what the price of bitcoin will be by the end of 2015. The poll will close on Friday (6th November).
Dollar signs image via Shutterstock
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What to know:
- Bitcoin's long-term rally is "broken" and will remain so until the price climbs above $85,000, said Jean-David Péquignot, chief commercial officer of derivatives exchange Deribit.
- Péquignot said that if bitcoin closes below the key $60,000 support level, the next likely target is its 200-week simple moving average near $58,000.
- The cryptocurrency has been trading between $60,000 and $70,000 for about a week.
