08. February 2018 11:51 GMT – Based on 24-hour reports, the collective crypto-currencies are mixed. BTC is up about 5%, Bitcoin Cash is up a surprising 25%, while most others, including Ripple, are down about 5%. There was a strong selling surge on Bitcoin between 22:00 and midnight GMT last night with a value of about $6 Billion. That pulled the market down $300 but subsequent small-volume buying brought the market up to about $8’500 at 11:30 GMT today, a $900 gain. This appears to be the first occurance in some time that the BTC market recovered quickly from a sell-off and ended strongly upwards.
In other news, the Euro lost about 0.15% against the USD and the USD is up to about 0.9455 Swiss Francs. Bitcoin Futures are following the present BTC price pretty closely. The DJI lost lightly to come to just about $25’000, and Brent crude oil is essentially steady at $65.00.
All-in-all, things look remarkably “normal” today considering what we have been seeing the past few weeks – so far anyway!
Crypto-Currencies Again Under Pressure
09. February 2018 02:23 GMT – As has become anticipted from other days performances, there was a mild sales urge on the BTC-USD market this evening GMT. It started as a tag-along to the earlier report above, but it intensified just before midnight GMT and caused a break to below $7’900. At the current time – 02:23 GMT – the market seems to be recoverng to the $8’000 mark, but it is too early to say that it will hold there. Bitcoin Futures are at about $7’900, slightly below the actual price.
In other news yesterday/today, the Dow Jones Industrials again lost over 4% for reasons that are not well understood. The German DAX also dropped over 2.5% before it closed. The fiat currencies seem to be holding reasonably stable – the USD up slightly and the Euro down slightly.
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.