Tone Vays

The news out of Greece continues to dominate financial headlines and even the mainstream media is starting to pick up the rumors that this default is driving the Bitcoin rally.

By now everyone is attempting to explain the reason for the big Bitcoin price move last week. Many in the space are convinced Bitcoin’s price is about to go exponential once again, and are happy that they called it right.

Market Thoughts: The Bitcoin Ecosystem may be at a highly anticipated turning point. This week we analyze the European Crisis and explore a prediction from 10 months ago utilizing the Fibonacci Indicators.

Perhaps it’s a good time to talk about the general economic landscape, the latest news on Greece as it relates to the faith of Europe and of course, how Bitcoin fits into this macro space.

This past week has seen a pair of interesting headlines. The feud between [Roger Ver and OKCoin](news/roger-ver-revealed-as-bitcoin-com-owner-in-bitter-dispute-with-okcoin/)  intensified, and even brought former top employees into the mix, while Ben Lawsky addressed the final version of the BitLicense in what is most likely his last public appearance as a regulator.

We have seen two big headlines rock the crypto-world this week, yet the price hardly budged. This can most likely be seen as positive, but let’s briefly explore these events.

The price of bitcoins has been incredibly stable over the past 2 weeks. This period of stability is nudging the average time before a significant move takes place. As usual, one of the reasons why there has not been much movement is the lack of any significant news.

In the last few days the market has been dominated by regulatory news. In what seemed at bit surprising [FinCEN decided to fine Ripple Labs an unreasonable sum of $700,000](news/fincen-confirms-larger-interest-in-bitcoin-companies-after-fining-ripple-labs/), for not complying with the Bank Secrecy Act as far back as 2013.

The news of the week came from a surprising source a few days ago. The investment bank [Goldman Sachs has made a substantial investment in the Bitcoin company Circle](http://www.cnbc.com/id/102634242), which seems to have everyone cheering that this might kick off a new trend leading to mass adoption.

The weekly BNC technical analysis. A look into the market activity of the Bitcoin marketplace for the week ending April 22nd 2015.