--- title: "Lifting the Offer: Week of April 27th, 2015" description: Released every Monday, Lifting the Offer provides key market data, macro analysis and price outlooks to prepare bitcoin traders for the week ahead. image: https://insights.paxos.com/hubfs/_itBit_LTO/Lifting-the-Offer-Week-of-04.27.2015.png --- [![itBit](https://insights.paxos.com/hubfs/itBit-Careers-Square.svg)](https://www.itbit.com/) [![itBit](https://insights.paxos.com/hubfs/itBit-Careers-Long.svg)](https://www.itbit.com/) [OPEN TRADING ACCOUNT](https://exchange.itbit.com/signup) [SUPPORT](https://www.itbit.com/contactus) [LOGIN](https://exchange.itbit.com/login) - [Exchange](https://www.itbit.com/exchange) - [OTC Trading](https://www.itbit.com/otc) - [Market Data](https://exchange.itbit.com/markets) - [Blog](https://www.itbit.com/blog) - [Exchange](https://www.itbit.com/exchange) - [OTC Trading](https://www.itbit.com/otc) - [Market Data](https://exchange.itbit.com/markets) - [Blog](https://www.itbit.com/blog) # [ITBIT TRADING BLOG](https://www.itbit.com/blog) ## Lifting the Offer: Week of April 27th, 2015 April 27, 2015 at 2:30 PM | [Bobby Cho](https://insights.paxos.com/blog/author/bobby-cho) ![Lifting-the-Offer-Week-of-04.27.2015](https://insights.paxos.com/hubfs/_itBit_LTO/Lifting-the-Offer-Week-of-04.27.2015.png)   Released every Monday, Lifting the Offer provides key market data, macro analysis and price outlooks to prepare bitcoin traders for the week ahead. Check out the full archive [here](https://www.itbit.com/blog/topic/lifting-the-offer).   ### ![Tradeblock-04.27.2015](https://insights.paxos.com/hs-fs/hubfs/_itBit_LTO/Tradeblock-04.27.2015.png?width=876&name=Tradeblock-04.27.2015.png) *[Source: tradeblock.com](https://tradeblock.com/)* ### Bitcoin by the Numbers **![Bitcoin-Price-and-Market-Cap-Week-of-04.27.2015](https://insights.paxos.com/hs-fs/hubfs/_itBit_LTO/Bitcoin-Price-and-Market-Cap-Week-of-04.27.2015.png?width=887&name=Bitcoin-Price-and-Market-Cap-Week-of-04.27.2015.png)** ### Best Bits from Last Week - [Institutional Investor: Derivatives Pioneer Blythe Masters Tackles Digital Currency](http://www.institutionalinvestor.com/article/3446313/banking-and-capital-markets-trading-and-technology/derivatives-pioneer-blythe-masters-tackles-digital-currency.html?ArticleId=3446313&p=1#.VTZpuq1VhBc) - [Coindesk: Bitcoin Core Developers Join MIT Digital Currency Initiative](http://www.coindesk.com/bitcoin-core-developers-join-mit-digital-currency-initiative/) - [Medium: Bitcoin, the Global Reserve](https://medium.com/@twobitidiot/bitcoin-the-global-reserve-9e61d6954533) ### The Macro View This week, rather than focusing on a specific macro topic, we wanted to recap what was an eventful first quarter for Bitcoin. itBit’s new [2015 Q1 Market Report](https://www.itbit.com/blog/itbit-market-report-bitcoin-price-analysis-for-q1-2015) examines the impact of market moving events and key macro trends on the price of bitcoin. The report also looks ahead to Q2 2015 identifying trends and themes bitcoin traders should watch. ### Bitcoin Price Outlook: Neutral (UNCH) #### *Price Recap* The trading environment over the past two weeks has created a real opportunity for active bitcoin traders. The first half of the week saw a gradual rise in bitcoin price which built confidence within the buy-and-hold community. The market peaked last Wednesday at a new 14-day high of $238, boasting a three-day gain of 7%. This high was short-lived as the price has reverted back to the [price range guidance](https://www.itbit.com/blog/lifting-the-offer-week-of-april-20th-2015) we provided last week of $219-$229. While some bitcoin traders waited for the market to build a new short-term support level at $238, the majority seized the opportunity to liquidate unrealized gains generated over the week. As we stated last week, with minimal market-moving headlines in the media right now, singles and doubles will continue to be the best trades available. #### *The Week Ahead* Inside Bitcoins, one of the industry’s largest conferences, kicks off tomorrow morning in NYC. The conference offers a great forum for announcements and opens up the possibility for market moving news. We are sticking to our guidance from last week and consider prices outside the $219-$229 range as potential opportunities. We also wanted to point out that the market saw a 10% drop in price towards the end of the Inside Bitcoins conference last year. Active traders should remain vigilant and be ready to lock in gains should negative news break (and get amplified) at the conference. Finally, itBit will be exhibiting at Inside Bitcoins so feel free to stop by our booth and meet the team. While your there, make sure to enter to win a new Apple Watch! ### This Week in Bitcoin’s (Limited) History **2013:** [Forbes: Living On Bitcoin For A Week: Bitcoiners Are The New Vegans](http://www.forbes.com/sites/kashmirhill/2013/05/04/living-on-bitcoin-for-a-week-bitcoiners-are-the-new-vegans/) **2014:** [Techcrunch: MIT’s Bitcoin Club To Give $100 In BTC To Every Student](http://techcrunch.com/2014/04/29/mits-bitcoin-club-to-give-100-in-btc-to-every-student/) Comments? Feedback? We’d love to hear it! [Click here](mailto:bcho@itbit.com) to email the author. *Bobby Cho is the Director of the Institutional Client Group at [itBit](https://www.itbit.com). Previously, Bobby was Vice President of Trading at SecondMarket specializing in trading bitcoin and illiquid asset-backed securities.* [Lifting the Offer Legal Disclaimer](https://insights.paxos.com/hubfs/_itBit_LTO/Lifting_the_Offer_-_Legal.pdf?t=1428961216609&t=1429305046006&t=1429914456000)   ### Bitcoin Trading Research Delivered to your Inbox ### Categories ### Subscribe to itBit Blog **Products** [itBit Exchange](https://www.itbit.com/exchange) [OTC Trading](https://www.itbit.com/otc) [Custody Services](https://www.itbit.com/custody) [Escrow Services](https://www.itbit.com/escrow) **Resources** [Market Data](https://exchange.itbit.com/markets) [Support Center](https://help.paxos.com) [API](https://www.itbit.com/api) [itBit Blog](https://www.itbit.com/blog) [Fees](https://www.itbit.com/fees) **Company** [About itBit](https://www.itbit.com/about-itbit) [Press](https://www.itbit.com/h/press) [Careers](https://www.itbit.com/h/careers) [Customer Support](https://www.itbit.com/contactus) [Legal](https://www.itbit.com/legal) **Crypto Assets** [Bitcoin](https://www.itbit.com/bitcoin) [Ethereum](https://www.itbit.com/ethereum) [Bitcoin Cash](https://www.itbit.com/bitcoincash) [Litecoin](https://www.itbit.com/litecoin) [Stellar Lumens](https://www.itbit.com/stellar-lumens) - [![](https://insights.paxos.com/hs-fs/hubfs/_00_PAXOS/Medium%20Updated.png?width=28&height=28&name=Medium%20Updated.png)](https://medium.com/paxos/itbit/home) - [![](https://insights.paxos.com/hs-fs/file-2672941852-svg/_itBit_Social_Icons/twitter-02.svg)](https://twitter.com/itBit) - [![](https://insights.paxos.com/hs-fs/file-2654911471-svg/_itBit_Social_Icons/linkedin-04.svg)](https://www.linkedin.com/company/itbit-pte-ltd) Copyright © 2020 Paxos Trust Company, LLC. All Rights Reserved. NMLS #1766787 Crypto asset trading involves a high degree of risk. The crypto asset market is new and unproven and may not grow. Currently, there is relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. In order to participate in the trading of crypto assets, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment. No material at this site should be considered as an offer by itBit to sell or solicitation by itBit of any offer to buy bitcoin or other crypto assets.