Bitcoin Price Prediction for 3/23/2016

Market Commentary:

This market is stuck. Fundamentally speaking the market is simply waiting on scaling rollouts from the Core team due to start next month, this following what is for now being seen as a failed takeover by Classic.

Additionally, given that the tx spam attacks have ceased for now, transaction volume is pushing back down which means perhaps bitcoin is not growing quite as fast as previously thought. Lastly, Ether, among a few other major alts, continues to attract the attention of traders and investors which is shifting volatility away from bitcoin to these other markets.

While we view all of these issues as short term developments, they can continue to squeeze the market for now. Again, price remains in a consolidation, and the 400 - 420 $ trading range is still intact.