As BTC is accepted more around the world (and “acceptance” isn’t well defined), “the cost of rejecting bitcoin will exceed the cost of adopting it. Bitcoin will begin to assume money’s traditional roles and gain institutional and government support. It will become all money and form the backbone of a new global economy,” Obiwankenobit explains, describing the “tipping point.”

BTC's recovery from $6,080 (Thursday's low) and a rally to $6,600 has created a higher low (bullish setup) on the chart. The relative strength index (RSI) is also biased toward the bulls (above 50.00). So, prices look set to test the key resistance at $6,838 (inverse head-and-shoulders neckline resistance). Essentially, BTC is now creating the right shoulders of the inverse head-and-shoulders bullish reversal pattern.