BTC is positively boring again, as it barely moves. I remember when we were stuck at $6,250 for like 6 weeks and I somehow convinced myself long-term support must have been forming…..yeah, not so much. (Please do your own research; this is not financial advice.) Bitcoin has been stuck in a tight range for a few weeks now, but I’m reluctant to draw any conclusions as we’re still kind of in a bear market until we’re not.
Ethereum, on the other hand, is suddenly like those McDonald’s All-American basketball players that come along every generation that makes every hoop fans’ heart pitter patter. Maybe it’s the upcoming “good” forks that have given the market life again; or maybe it’s the fact that after a 94% selloff buyers have re-emerged; or maybe it’s none of those things at all. But my eyes are glued to ETH until further notice. This is the 4th or 5th time we’ve tested this $155-$160 range in ETH after putting in the $80 low in late November. My general sense is when you knock on a door long enough someone either answers and lets you in – or you turn around and go home.
Yes, that’s a young Kobe Bryant in the photo in case you’re wondering.
I have to say it was splendid to hear from clients again – good luck to all in ’19.