18. January 2018 15:12 GMT

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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!

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16. January 2018 03:30 GMT+

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Another Small Sell-Off

16. January 2018 03:30 GMT – There was another flurry of sales tonight, starting about 23:45 GMT and lasting until almost 16. January 2018 02:30 this morning. It seems that some people have set a sell level at (variously) $13’000 or $13’500 or $14’000 and they drop modertely large bundles when these levels are broached and someone else starts to sell. It will be difficult to push up the BTC price level until these sources are exhausted, or conversely, become convinced that BTC is on the upward drive again. This may happen when ethereum hits a limit, although it looks like that may be happening now, and ditto with ripple.

Yet Another Sell-Off – This One Not So Small

16. January 2018 12:50 GMT – There was yet another sell-off this morning GMT, starting with a mild one early in the morning from about midnight to 05:00 GMT. Following this was a much stronger effort, including four large sales efforts starting at about 07:45 GMT and still continuing, albeit with not so large sales packets lately. At the moment, the price level is holding at about $11’700, but this is certainly not guaranteed to hold into the afternoon.

The price fall to date is about $2000 since early yesterday evening – this amounts to a loss of about 15%. Ethereum also suffered a little more than 15% and ripple more than 25%. BTC futures dropped about 14% in the same timespan.

And Still A Third For Today

16. January 2018 19:10 GMT – There was another attack on Bitcoin starting about 16:00 GMT today. This one was not as heavily financed as the earlier one, but still accounted for a 7% fall from about $11’800 to 11’000 by about 18:00 GMT.

The news services are reportng that the cause of the hausse is fear amongst investors that Bitcoin and other cryptocurrencies will be outlawed by various governments around the world. That would make sense if it were true, but it is difficult to see how that can come to pass on a world-wide basis, particularly when some governments are supporting the use of cryptocurrencies.

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12. January 2018 03:20 GMT+

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8% Sell-Off

12. January 2018 03:20 GMT – Starting about 02:45 GMT yesterday (11. Jan) there was a hard Bitcoin selloff – apparently by a single trader or group – that lasted for about an hour and a half – amounting to about 12’000 BTC net. The market result was a drop from about $14’500 to about $12’900. There was some recovery to about $13’500 during the following three-quarter hour but the market stabilised at about that level ($13’500 at 05:00 GMT) for the next 23 hours (up to this writing), plus or minus about $500. This result is a consistent loss of about $1’000, or about 8%, from Thursday to Friday.

After the major sell-off, the market was very quiet for the rest of the period up to now.

13. January 2018 01:48 GMT – The market volume stayed very quiet from then on until a single isolated 1700 BTC purchase at about 13:15 GMT. That created a small peak to about $14.0k, but not a strong reaction. After that the price remained at about $14k plus-minus $200 until now. The market volume remained very low.

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More later on today.

13. January 2018 07:33 GMT – Just as I was writing the last report (13. January 2018 01:48 GMT) there was a medium-strength buy effort that brougnt the market up to about $14’100 with a narrow range of about $100 plus-minus. It stayed in this band with light trading up to this writing.

13. January 2018 23:55 GMT – The market worked itself upward roughly $100 around the middle of the day, still on light trading, and continued at that level up to midnight GMT.

14. January 2018 12:15 GMT – The market remained stable until a series of sell orders (moderate size) hit starting about 04:15 GMT. This brought the market down to about $13’700 and a further sale at about 08:00 GMT brought it down to about $13’500. It appears to be stabilising there, but it is too early to tell with any certainty.

15. January 2018 01:50 GMT – The market continued to stabilise to a certain extent, if one can use the term “stabilise” for this kind of behavior – at about $13’500-$13’600 up to the present time. There was one relatively large buy situation at about 15:30 GMT, otherwise the market was quiet.

15. January 2018 10:50 GMT – The market continued with relatively weak activity and slowly worked up about $100-$150 to $13’600 just before 11:00 GMT. There were no large movements during this time.

On another note, the USD continues weakening against the EUR and most other European currencies (for example the CHF), including the GBP.

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08. January 2018 21:35 GMT+

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Return to 2017?

08. January 2018 21:35 GMT – Since the previous report the BTC-USD exchange rate started a downward movement at about 13:00 (about $15’500) and dropped continuously to about $14k at almost 15:00. The traffic was fairly heavy, but continued as the rate started moving slowly upwards. At about 21:00 it had reached about $14’900, but at this point with almost no trading.

09. January 2018 01:25 GMT – Shortly after the report above there was a sharp drop in the price caused by some (a few?) sales with the price ending up at about $14.7k. After that there were a few more starts and stops, ending with things looking like they might settle out at about $15.2k by the time of this writing.

09. January 2018 12:55 GMT – The price level held at the above level for about 4 hours, but then a low-level sell-off started. The BTC-USD exchange level dropped irregularly but consistently until it reached about $14’500 on weak trade at the time of this writing. There is no indication that the fall will continue or stop at this time. According to other reports, ethereum is reaching new highs presently, but with an uncertain level in very weak trading. BTC futures are off some, reflecting this morning’s BTC fall under $15k.


10. January 2018 12:55 GMT – BTC is under attack again. The theory is that BTC-holders are selling BTC to buy ethereum (ETH), which is experiencing a record high flight.
“TradingView.com” has an interesting theory that involves a cycle that repeats on an annual basis. The steps in the cycle (basis market cap) are

1- NEW MONEY GOES TO BTC
2- BTC BUBBLE POPS
3- MONEY GOES TO ALTS
4- XRP BUBBLE POPS
5- MONEY GOES TO ETH
6- ETH BUBBLE POPS
7- DEEP CORRECTION
8- BTC ETH MOVE HIGHER WHILE MOST ALTS STAY IN CORRECTION.
9- BTC DOMINANCE GOES TO OVER 50% AGAIN
10 – RINSE AND REPEAT
adapted from https://www.tradingview.com/chart/ETHBTC/o9Xcmvp3-BTC-MARKET-DOMINANCE-HISTORIC-LOW/

If this holds true again, then we will have to wait until mid-spring or so until BTC starts to make solid positive moves again. Patience is a virtue!


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06. January 2018 03:30 GMT+

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Now This Is Something New!?

06. January 2018 03:30 GMT – Since the jump caused by the purchasing surge at about 08:30 GMT yesterday morning, the BTC market has risen more or less steadily from $15’800 where it started to about $16’800 at the present time. If you go back to before the sell-off that ended at the end of last year, that is roughly the rate the BTC-USD exchange was rising at, about $1’000 per day.

The $16’000 Question is, will it continue on or not? My prediction from before the EOY sell-off occurred was that the rate would drop – maybe as far down as to $10’500, and after the EOY would start to rise again at roughly the same rate as it had been before the sell-off started. It will be interesting to see what really happens now, but I personally don’t think there will be any large surprises – some bumps, undoubtedly, but no big swings either up (faster) or down (again).


First-Half Day

06. January 2018 13:22 GMT – Since the previous report, the rate has more-or-less steadied out at about $16’500. However, the typical thing to happen is that any changes will start just after I write this (Murphy’s Law in action!), so stay tuned!


Same Song, Second Verse

07. January 2018 01:05 GMT – Today seemed to be a repeat of yesterday to a certain extent. After moving along essentially unchanged all morning, and starting at a low point (about $16’300) at about 13:45 GMT, the BTC price moved up to about $17k over about 12 hours. The main difference from yesterday was that the trading today was very weak, with the exception of two relatively strong parcels – one sell, one buy – at about 21:00 GMT. These seemed to hved no major effect on the market’s movement. Will it continue? Only time will tell, but the futures are strong compared to the past few days – in theory that should be a positive sign.


07. January 2018 02:45 GMT – After peaking out at a little over $17k at about 17:00 GMT the trend stared the opposite direction and kept going up to this writing, when it is at about $16k. There are a few spikes here and there, but the market movement seems to be general, rather than initiated by any specific transactions. I guess we will see more in the morning!


My Advice

My advice to you and most other people is to get into something that is structurally sound and that will protect you from random ups and downs. Yes, I’m talking about CryptoGold. Get into it and watch your BTC inventory grow and enjoy your income at the same time. Also, if you get adventuresome, try some of the other coins available within the system – my choices would be ethereum and lite-coin.

How to get in? Click on the link to Krypto-Gold Switzerland or on the banner below and follow the instructions. There is also a lot of information about how to progress in the system, once you are inside.

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05. January 2018 00:58 GMT+

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Now What?

05. January 2018 00:58 GMT – Things seemed to be rocking along at about the same level as the last two days until 08:30 GMT yesterday (04. Jan) when a large parcel (1885 BTC) was forced into the market to sell. This dropped the market by about $500. The trading on the market aside from this one big one was riding along at a maximum of about 500 BTC, and this continued throughout the rest of the day. The consequence was that by end of day the market had worked back up to just under $15’000 – about $300 above where the sale was pushed.

What will happen later today and then over the weekend? I have to say that the BTC Futures do not look very strong, but that could be the long-term situation – slow steady gain. That would be a pleasant situation for many folks, I expect.

05. January 2018 12:28 GMT – At about 08:30 – 09:30 GMT this morning, there was a flurry of buying action, and this bumped the BTC price up about $1’000 from $15’000 to $16’000. It stabilised there for at least 3 hours (up to now). Is this the beginning of something interesting? Or just a fluke? Only time and Bitfinex will tell, I guess!


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01. January 2018 16:58 GMT +

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Now What?

01. January 2018 16:58 GMT – First and foremost,

Happy New Year Everybody!!!

Ok, that’s taken care of. Now we just need to get BTC started off for a strong 2018. Looking at the results so far today, it is definitely not going in that direction. Actually, it doesn’t seem to be going in any direction except sideways with a few wiggles here and there.

I’m not really worried about Bitcoin, but the alt-coin called “Verve” has apparently come to a grinding halt. I didn’t have any and I don’t have any particular knowledge – I’m just going on what I’ve been reading in FB, and that is about 95% not good. One more reason to stick with the leaders in the crypto-currencies. If you are not aware of this, Bitcoin is THE leader here – the first and the strongest in terms of market cap and holders by far. I think ethereum may be number two, but it is far behind Bitcoin and not such a clear situation.

It will be interesting to see where the market goes in January. Right now, the Bitcoin Futures are at about $14’500, which does not suggest any strong movements in the near future, but the futures market – despite its name – tends to be a follower of current prices.


More of the same – again

02. January 2018 02:35 GMT – Well, it has been about 12 hours, and still nothing “unusual” is going on. No major moves up or down, just lots of sideways. Some of the parcels seem to be getting larger, but that’s up AND down, so who knows where we go next?

The one other thing that is significant outside the crypto-currency area is that the USD is continuing to weaken against most of the other world currencies. This is reportedly due to the new tax changes coming into effect today, some companies who have stockpiled some large tax losses will not be able to use them, although their overall taxes will be lower. To date the dollar has lost a little over 2% for the pairs I tend to watch – USD/EUR and USD/CHF. I hope that reverses itself soon and the BTC rate starts in the right direction. Who knows if that will happen? Well, it sure is not me! My crystal ball is full of fog, like it is outdoors here tonight. Here’s hoping for the best, although that is not always the same thing for everybody.


04. January 2018 00:25 GMT – The entire day (3 Jan) remained in about the same situation as before. In the evening of 3. January the amount of traffic was almost nil. In this condition, the exchange rate was between $14’700 and $15’200, which is quite narrow for Bitcoin in the past weeks.


Wrap Up For Now

That’s all I have for now – needless to say, I think CryptoGold (get there via www.krypto-gold.ch = CryptoGold Switzerland) is one of if not the most positive way to go – combine wholly-owned and completely paid independent Bitcoin mining with alt-coin mining and no-cost trading inside the system, plus the advantages of MLM in growing your income and eventual Gold-backing for the alt-coins and external trading and you have a definite winner.

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P.S. I made some format changes for the New Year – I hope these make it easier to read the content and see what is going on.