16. January 2018 03:30 GMT+

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Another Small Sell-Off

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.

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Year-End Sell-Off Started?

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20. December 2017 03:43 GMT – It appears that the sell-offs that I predicted for end-of-year have started a little early. The BTC price started falling about 09:30 GMT Tuesday morning, and is continuing to at least 01:00 GMT this morning. There is a small rally going on since then, but there is no indication that it will hold. Most of this sell-off was with relatively large quantities of exchanges, as well.
Where do we go from here? My only advice is to position yourself where you want to be. Then sit back and watch it all happen.

20. December 2017 12:33 GMT – Since the above report, the trading volume has almost disapppeared. What little trading was active has pushed the price back up into the $17’300/17’400 range. For me as an untrained trader, it is somewhere between “difficult” and “impossible” to predict where it will go from here in the short term. There may be an exception for the technical traders, and a larger trader could probably play the market to set his own prices, at least in the short term.

21. December 2017 20:44 GMT – Since my last write up, there has been another sell-off spurt and BTC is now down around the $15’000 to $15’400 range. Maybe somebody needed to buy a Christmas present? Will it stay down there? Or go back up? Or go even farther down? Beats me, my crystal ball is all fogged up! Stay tuned and we will see.

22. December 2017 03:04 GMT – Since the earlier report, there has been some hard selling again, and the price at this point is down to just above $14’000. Come on guys, take it easy – then maybe you can still sell but get a better price. What do ya think?

03:13 GMT – While I was setting this post, the price dropped again to around $13’500. Great!


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