HODLer Efforts Hit By System Sellers
14. January 2019 11:35 GMT – For the period since our last report, most of the daily action appears to have been HODLers playing around with their holdings. The exceptions that have driven the price down are three strong system sales hits, two on 10 January (almost USD 9.5 Billion and USD 6 Billion) and one yesterday (13. Jan) at about USD 4.5 Billion. These three hits made for market price losses of about $210, $150 and $110 respectively. Other than those movements, the price was essentially stable.
Looking at the cost of the sales, the first one cost $9.5 Billion/$210, or about $4.5 Billion per $100. The second one cost $6 Billion/$150, or about $4.0 Billion per $100, and the third cost $4.5 Billion/$110 or also about $4.0 Billion per $100. The Bitcoin market seems to be reaching some degree of consistency.
Oh, if you are not familiar with the term “HODLer”, it refers to someone who holds onto his/her values (stocks, bonds, financial papers, currency, etc.). The intentional mispelling of “holder” is to emphasise the intention of the author’s use of the term.
The top ten crypto-market caps have been stirred up again, similar to our last report. Take a look at the list below to see what’s where today with a 7-day span price change – please note that this reports only what has happened in the past week, not since our last report. There have been some significant shifts in the top ten, but all ten are negative except for Tether and TRON. Ethereum and Ripple swapped places again and the bottom five have moved around some.
|BSV||Bitcoin Cash SV||-13.3%|
Bitcoin’s market cap increased, rising to 52.8% of the total crypto market cap (see the chart below), but the total market is 9% lower at $119 Billion and BTC is at $63 Billion. It appears that the previous trend is being reestablished.
Other Financial Movements
The table below shows financial movements in other areas. Compared to our last report, the USD is slightly weaker against the EUR but even with the Swiss franc and with gold. Brent is up $4 in the face of international market uncertainties – but still, no one seems to believe that oil production will be reduced to the extent that OPEC hopes/wishes.
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