Eleven Thousand – For Good?
18. February 2018 02:09 GMT – From Saturday morning until almost midnight Saturday night, the market was relatively steady at about $10’700. Then, starting about 22:15 GMT and running until just after midnight GMT, there was a $3.5 B buying spree, interspersed with some profit-takîng, that pushed the market up over $11’000. It stayed there with buyers and sellers active up to the reporting time. On a 24-hour basis, that made Bitcoin the strongest of the top ten CC’sat +7.8% with the others spread out between -.8% (NEO) and +4.4 (bitcoin cash). The futures will have some catching up to do when the market opens – they are about $1000 behind the present actual.
Eleven Thousand – Not For Good
19. February 2018 02:13 GMT – If you look at the chart above, or just the numbers and the text we have in this article, you will see that the BTC-USD rate has dropped below $11’000. The actual drop took place early Sunday morning GMT, but continued mixed buying and selling kept the marker at between $10’124 and $10’847, but with an eyeball average at about $10’600, which is where it is at this reporting time. On the 24-hour average, BTC lost -5.5%, but with the exception of ethereum (-4.7%) and litecoin (-5.32%) all the others in the top ten dropped more than BTC with the worst being IOTA at -9.1%. Bitcoin futures, at what I suspect is a coincidence, are at $10’595.
One interesting note is that BTC and to some extent etherum seem to be reacting more positively than the other members of the top ten group. By that I mean that when BTC goes up, it goes up more in percent than the others, and when it goes down, it goes down less in percent than the others. Sounds like a good reason to HODL with BTC.
At this time, the market is not showing any indications that might indicate where it will go the rest of today. We will see!