This weekly feature is brought to you by DCC Member Adam Wyatt of BullBear Analytics.
Market Commentary (BTC):
There is no doubt that the seismic event that was the Microsoft news, and the price action that followed, have kept both bulls and bears at bay for most of the remainder of the week. Bulls are right to be encouraged by the announcement because, in our opinion, it is one that has broad, long term positive implications for the future of bitcoin and it’s economy. Conversely, the bears can take solace in the fact that the news caused a relatively muted rally (particularly when compared to the PayPal rally) that has since morphed into a continuation of the sideways chop that has characterized bitcoin price action over the past few months.
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