THE CROWD EXPECTS PRICES TO EDGE HIGHER THROUGH THE MONTH OF SEPTEMBER

As of this morning, The Crowd’s Line is predicting the price of Bitcoin to edge higher from the current $6,400 level to near $6,900 by the end of September.  The crowd sourced price target prediction seems to be based on the bullish thesis that Bitcoin has exhausted its forced selling pressure as the digital currency dipped below its marginal cost of mining.  It now seems that the conditions are set for the price to strengthen, likely firming ahead of a potential Security and Exchange Commission’s decision for the first listed Bitcoin ETF.  Time will tell, but for now the crowd’s fair value price target expects Bitcoin to rise to near $7,000 when that decision is expected to be possibly disclosed in late September.