Sellers and Buyers Battle It Out
18. January 2018 15:12 GMT – The market climbed back up to about $11’300 late on the 17th, but has bounced around between $10’600 and $11’600 since then. BTC ran down to about $9’500 on 17. January and that sparked wide-ranging purchases and sales of BTC and the other crypto-currencies since then. During the most recent period the market volume has been relatively small.
Is this the beginning of the end of the Bitcoin losses? There is really no way to tell, but it seems that potential buyers are regaining confidence that the BTC will come back strong. When sellers get fed up and want to get rid of their BTC, it seems there are sufficient buyers there to soak up the sales. That is a good sign for increasing BTC values in the near future.
The interesting thing for me was that the other crypto-currencies were not responding as strongly as BTC. For the present 24-hour period, BTC gained about 30%, ethereum and ripple each about 15%, and the rest of the CC’s between zero and 5%. That would seem to indicate that buyers think that BTC is undervalued at prices below about $11k.
Apologies from BFB!
BFB suffered an attack on the computers involved in the website production yesterday (17. Jan). As far as we can tell, the attack was not specifically aimed at our machines, but was carried by one of the trusted support program websites we use.
Since we had recently changed out some machines, we did not have the backup that we normally utilise, and as one result, the updates to our website did not happen yesterday. It is impossible to assure, but we are doing and will continue do our utmost to avoid a repeat of such experiences in the future. Sorry!