30. December 2017 11:13 GMT – After all the non-excitement there was a little more early this morning (GMT) as four large parcels were sold. This dropped the price by about $1’500 on average from $14.5k to $13k. I don’t know if there are any buyers out there at this point who are waiting for lower prices, but I expect we will see more of this before the end of the year. A price around $10’500 on New Years Eve would not surprise me. But at the same time, I would not be surprised by a strong rally starting New Years Day and continuing more-or-less for 2-3 weeks.
… And a Little Bit Down and a Little Bit Up
31. December 2017 00:17 GMT – there has been some more movement since midday but indecisive. The eyeball average is about $12’300 to $12’400. Typically what happens is that any big move comes right after I write a post, so let’s see what happens tonight?
How to avoid all this excitement (and risk)? My recommendation is to buy into CryptoGold. With mining in place and not subject to variations in fixed costs, this will put you in the easy chair (or maybe the beach lounger?), watching your benefits grow.
10 December 2017 09:00 GMT – The Bitcoin price in USD has been subjected to a (up to now) 60-hour selloff that started at levels above $16k and now are running about $13k. Some people are saying that this is being caused by the initiation of sales of BTC-USD futures on some USA exchanges. I don’t really believe that – I think it is more a reaction to an almost uncontrolled rise in the price that had the price increasing $1’000 to $2’000 daily.
Also, the selloff is not as disastrous as some people are saying: the present price level was first reached only four days ago. Perhaps “correction” is a better term to use here.
How long will the “correction” continue? Your guess is as good as mine. At some point the lust for Bitcoin will overpower the selloff desires, and we will start upwrds again. My guess (with no good reason) is in 24-48 hours.
11.December 2017 10:34 GMT – Since the above was written, it appears that the recovery is underway. The exchange rate has reached the $16’500 area and appears (for now anyway) to be stable there, although this is without almost any large movements (buys or sells) since about 16:00 GMT yesterday. The proof of the pudding will be when the big players come back into action.