After the big upsurge in April and May, Bitcoin has started the month of June on the backfoot. Clearly, after such a vicious rally, there must be some long-side speculators banking profit, while nimble short sellers may have also been dipping in their toes here and there in order to take advantage of the severely overbought conditions. But as always, the key question is this: where is Bitcoin headed? That is a million-dollar question that no one can answer with a strong degree of confidence, and in any case it all depends on your time frame. You could say, for example, that it will be going lower and it may well go ... (full story)