GMT20140627 14:15 Trend Analysis of Democurrency

Bitcoin:

A news is coming in this afternoon that Spanish government will impose a tax on the rich whose bank deposits is higher than 100000 euro. This is a good news to Bitcoin like what has happened in Cyprus last year. Because of the economic volume of Spain, Bitcoin price will rise 10 times if this policy is implemented. And more peoples in other European countries like Greece, Italy will get involved. The Bitcoin fire will be lit firstly in Europe.

It’s not clear whether the rebound today is relevant to this news, but buying power becomes active. Wave of selling becomes more, but the price is still going up.

The FBI Bitcoin auction is starting. So expect a few more fireworks.

From the pattern perspective, it will be double dip in a short time, and will be head ,shoulders and dip in a long period. Maybe it will jump and rise to $660, and move sideways for a week, then go up to a plat around at $830.

Of course, it’s very possible that Bitcoin will soar like a rocket if the Spain news makes a great effect.

Altcoin:

Altcoin Index 1 is 6.13, down 2.4%. Altcoin Index 2 is 2.56, up 7.4%. In fact altcoins  do not rise today, just because new coins are added in coinmarketcap.com.

LTC rebounds today, and is still weaker than BTC.

DOGE rebounds greatly, but it is still difficult to come back to the previous platform.