12. January 2018 03:20 GMT+


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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