The bitcoin chart is a pretty picture

Author: Adam Button | Category: Cryptocurrency

Bitcoin breaks out

Bitcoin breaks out
The period of consolidation in bitcoin appears to be over.

Bitcoin has broken above the March high today as it continues a run of higher lows. It's all adding up to a beautiful chart with nothing now standing in the way of a significant run from here.

The WSJ wrote yesterday about the improving outlook for a US EFT, something I believe will lead to $100,000 bitcoin and a top, or at least a major interim top.

As for the near-term, I suspect this breakout will run but keep some powder dry because breakouts often retest the break.

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