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CryptoWatch: Positive ‘price drift’ suggests bitcoin has room to move higher

Bitcoin showed further resilience Thursday, building on sharp gains made earlier in the week.

Often in the past, sharp moves higher in the price of the No. 1 digital currency have been followed by pullbacks, or at the least, consolidation. This time, bitcoin has recorded five consecutive winning days and the “price drift,” when an asset continues in the same direction after a sharp move, suggests there’s more to come for world’s biggest digital currency, analysts say.

“All in all, we believe that when we see signs of price drift that it indicates that the current price may not be the fair value price.

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