Low volume uncertainty
I have been spending the last few days with my family as much as possible, as Monday I will head back to work after two weeks off and it is looking to get busy. It has been a nice day today and after sledding in the morning, we shouted our neighbors and their kids to hot wings in the city, as they have done a lot for us over the last 9 months we have lived across the road from them. They didn't know we were shouting of course as in Finland, it isn't common under almost any circumstances, but it really was the least we could do.
My daughter and wife are both clowns.
Over the holiday period, I have been keeping up with the markets, but hardly checking in as I am not planning on doing much at this time anyway. However, I checked in just before on BTC and was surprised to find that while the price hovered around an ATH last night, the USD volume is 75% less than it was four days ago. Does this mean that we are at an impasse on price, where no one wants to push it over the next psychological hurdle of 30,000 and no one wants to sell for less than that?
I don't know much about trading volume meaning,, but I always find it amusing when people only look at the percentage change as an indicator. Not so long back someone was saying how happy they were to wake up to "token X" that they hold being up 150% - yet when I checked it had less than 10 dollars volume on it. 10. While I don't know much, if a 10 dollar buy pushes a token 150%, I will assume that the token is having a few "issues".
This is a picture of my daughter watching the trading charts. As you can see, she has inherited the 1000 yard stare and the KP "holder" pose - close to the heart.
I don't hold much Bitcoin, but I do hold enough to be interesting and if I would be able to trade a bit at the high for a bit more at the low, I wouldn't mind. But, I don't know if BTC is done for the day and is going to start regressing to the new floor (18ish?) or will creep past 30K and then blast to 40K. Because of my low stacks and underperforming alts, I am quite cautious these days and don't want to make a mistake and lose the little I have, as I see the long term potential of Bitcoin returning significant amounts, even on what I hold.
I think they call each other to coordinate their outfits.
The problem is, that since the budget is stretched to the maximum, I can't afford to push any external value into crypto and the last buy I made was just before we bought the house, sometime back at the start of 2020. Of course, after the dramas surrounding income flows during the year, I felt forced into a holding pattern of sorts.
I am hoping that the real crazy is yet to come, after I can start putting a little bit in again from my earnings. I am aiming for 2021 to be a decent building year, but it is already looking challenging in various ways. However, maybe it is always going to be a challenge to build, as there are always so many distractions and unexpected costs that arrive. For us, the house is going to be a big drain on our potential, but it is also part of our investment diversification - one that will severely underperform in relation to others, but will likely retain most of its value and maybe even make some gains.
Over the years, I have made some terrible trading decisions, yet in comparison to most of the world, I am a "massive" holder. Which is weird. Even in Bitcoin, if all 21 future million (if available, ~20% is locked for good) was distributed evenly between the global population, each could have 0.003 of a Bitcoin - 87 dollars worth today. If a billion people are going to start using it, it is going to have to be far more valuable than that and the fees to transfer will have to come down significantly.
None of this helps me with my current BTC dilemma though, so I guess I will just have to hold it and see what happens. Probably hold it all the way down like I normally do - at least though, if those billion do start using it, I will have more than most.
What are people's predictions on 30K BTC?
I have the feeling that the bulls aren't done, they are just testing who thinks they are.
It could also be that rather than BTC volume, they have been more concerned with alcohol volume and be a little hungover and blurry from the new year's celebrations. A new ATH will return their focus.
Taraz [ Gen1: Hive ]
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