24. December 2017 13:31 GMT – It appears that the BTC market has been rising on almost no volume and falling on relatively substantial selling. The result is that the bandwidth is now stretched between $15k on the high side and $12k on the low side. What that results in is that there were very few transactions yesterday (23. December) going up, and a fair amount of transactions today, mostly sells (at least up to now) going down. It is interesting to watch if you are not in a position where you have to do something.
It also is interesting that the news finally discovered the BTC sell-off. The various news services are touting the “largest fall since XXX” but they are out of date and the price is already rising by the time they publish. “Anything to sell newspapers”, I guess.
Since my BTC is in CryptoGold, I can just watch the excitement with no concern about what is happening short term. Join me! Click on the banner below and join for free.
25 December 2017 14:07 GMT – More of the same, except that the traffic last night was not as heavy as before. The mid-point right now seems to be about $13’500, but that could change quickly. Merry Christmas for those who celebrate it?
07. December 2017 10:00 GMT – The BTC-USD exchange rate passed through the $14k level at about 05:00 GMT this morning, and is pushing the $15k mark (it has already exceeded it in some exchanges) at this writing. The more or less steady advance of the BTC appears to be holding up.
Looking at the longer term charts (4 months and more), it appears that it is time to start using a logarithymic scale for the price in order to see some meaningful results. I don’t know if the services are prepared to do that or not (except for a few that already offer the option).
08. December 2017 01:18 GMT – Bitcoin crossed the $16k mark at about 22:10 GMT tonight and continues to charge ahead. At this time the price is pushing $17k and came very close to that at about 00:20 GMT but backed off slightly until now.
If BTC continues to jump about $2’000 per day, we should be at close to $65k at year’s end. Do you think this is possible? My guess is that it will be closer to $50k-$55k due to some serious profit-taking along the way.
08. December 2017 06:32 GMT – Starting at about 02:45-03:15 GMT this morning, there were some strong buy and sell actions on the BTC-USD rate. The short term result (so far) is that the overall rate dropped from as high as slightly over $17k to the present rate of about $15’000. Things are very unstable at this point and there will likely be some more strong movements in both directions before things calm down.