Bitcoin Forecast And Analysis For 15th February: Spike Could Signal Beginning Of Rise

The consolidation Bitcoin has been in since the end of last week has continued today. However, a large spike - a sharp decline followed by a rise - that took place this afternoon signals the consolidation may be coming to an end and that we may see a large rise over the weekend.

At the time of this writing, the bitcoin course was equal to $3612 and the market capitalization was $63.3 billion.

The spike caused the price to fall below 3550 which is not only the bottom of the consolidation but also the point where a lot of traders who bought would have placed their stop loss orders. A big bunch of stop orders being hit allows the whale traders - the traders who buy and sell huge quantities of currency - to buy a very large amount of Bitcoin, which could be the reason why the spike took place. If this is the case, there's a strong possibility we'll see the price breakout of the consolidation and rise over the coming days.

For now, keep watching the price closely.