After a long bear market, the Bitcoin phenomenon requires a double bottom to renew price confidence.
While the market is late for their yearly speculator bubble. New confidence in a higher, $550 dollar bottom would show yearly gains in the xxx% range and allow for further speculator growth
Additionally, with the US market index held afloat by QE that is unable to be stopped 'lest the US government become bankrupt, we can expect the masses to look for a market hedge that is easy to hide and resists seizure, by design.
While the market is late for their yearly speculator bubble. New confidence in a higher, $550 dollar bottom would show yearly gains in the xxx% range and allow for further speculator growth
Additionally, with the US market index held afloat by QE that is unable to be stopped 'lest the US government become bankrupt, we can expect the masses to look for a market hedge that is easy to hide and resists seizure, by design.