This chart uses quotes from “Trading View”, most of our texts use quotes from Bitfinex, which often are lower.
HODLer Efforts Hit By System Sellers
14. January 2019 11:35 GMT – For the period since our last report, most of the daily action appears to have been HODLers playing around with their holdings. The exceptions that have driven the price down are three strong system sales hits, two on 10 January (almost USD 9.5 Billion and USD 6 Billion) and one yesterday (13. Jan) at about USD 4.5 Billion. These three hits made for market price losses of about $210, $150 and $110 respectively. Other than those movements, the price was essentially stable.
Looking at the cost of the sales, the first one cost $9.5 Billion/$210, or about $4.5 Billion per $100. The second one cost $6 Billion/$150, or about $4.0 Billion per $100, and the third cost $4.5 Billion/$110 or also about $4.0 Billion per $100. The Bitcoin market seems to be reaching some degree of consistency.
Oh, if you are not familiar with the term “HODLer”, it refers to someone who holds onto his/her values (stocks, bonds, financial papers, currency, etc.). The intentional mispelling of “holder” is to emphasise the intention of the author’s use of the term.
The top ten crypto-market caps have been stirred up again, similar to our last report. Take a look at the list below to see what’s where today with a 7-day span price change – please note that this reports only what has happened in the past week, not since our last report. There have been some significant shifts in the top ten, but all ten are negative except for Tether and TRON. Ethereum and Ripple swapped places again and the bottom five have moved around some.
|BSV||Bitcoin Cash SV||-13.3%|
Bitcoin’s market cap increased, rising to 52.8% of the total crypto market cap (see the chart below), but the total market is 9% lower at $119 Billion and BTC is at $63 Billion. It appears that the previous trend is being reestablished.
Other Financial Movements
The table below shows financial movements in other areas. Compared to our last report, the USD is slightly weaker against the EUR but even with the Swiss franc and with gold. Brent is up $4 in the face of international market uncertainties – but still, no one seems to believe that oil production will be reduced to the extent that OPEC hopes/wishes.
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Some BTC Accounts Appear To Have Been Refilling
03. January 2019 23:45 GMT – Looking at Bitcoin movements over the months of December and January to date, it appears that at least some investors/traders were stocking up their BTC accounts before the end of 2018. There were some system buying programs, one as large as about USD 16 Billion on 20. December, and some system sales programs, the largest of these being about USD 10 Billion on 12. December. In bulk, the market has reurned to the opening status of December after having a 20% slump in mid-month.
The result is nothing like the run-up many people had been expecting/hoping for 2018 earlier on. On the other hand, I think many BTC fans are probably happy now that there was not a larger sell-off than has happened to date. At the end of 2018, BTC had dropped to about 27 percent of the typical 2018 start-of-year price (not the maximum), not including a credit for the Bitcoin Cash BCH spinoff. That is a big hurt for BTC investors, but investors in most other cryptocoins took an even larger hit.
No, I STILL don’t know where BTC is going from here. My best guess (and it is STILL a 100% guess) is that the market will fall a small amount more in the beginning of 2019. Then it might start to recover its value – slowly – to finish 2019 at about $5’500 or $6’000. There will undoubtedly be a lot of ups and downs along the way. I don’t know about other people, but I would be happy with that kind of performance. That would be roughly a 40% increase for the year, and that is not bad if you ignore where it started at the beginning of 2018.
The top ten crypto-market caps have been stirred up some more compared to before Christmas. Take a look at the list below to see what’s where today with a 7-day span price change – please note that this reports only what has happened in the past week, not since our last report. There have been some major shifts in the top ten, and all ten are positive except for Tether. Ethereum and Ripple swapped places and the bottom five have all moved around.
|BSV||Bitcoin Cash SV||+3.2%|
Bitcoin’s market cap fell to 51.3% of the total crypto market cap (see the chart below), and the total market is 3% higher at $130 Billion and BTC at $67 Billion. Does this mean that the public is losing confidence in Bitcoin? I don’t think so, I think it is more measure of people getting braver and getting into other cryptos, rather than BTC
Other Financial Movements
The table below shows financial movements in other areas. Compared to our last report (before Christmas), the USD is slightly weaker against the EUR, the Swiss franc and gold as a result of the uncertainties coming from the market movements resulting from the Apple sales fall word-wide. In the commodities, Brent is up about $2 in the face of increasing the international market uncertainties – but still, no one seems to believe that oil production will be reduced to the extent that OPEC hopes/wishes.
Thanks for visiting our website! Please come back to visit us whenever you can. You probably have seen the chaos going on in the conventional stock and financial markets these days. How do you feel about what’s going to happen to BTC in 2019? Don’t be shy. If you don’t write spam or garbage, I will publish your comment(s).
All two of us here at Bitcoin Fortune Builder want to wish all of you Greetings for the coming season and the best for the New Year (ein guten rutsch, wie man sagt auf Deutsch).
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