This podcast discusses my opinions on BTC price and volume on February 12 2018.
Here is brief summary of my thoughts:
1. We are likely to enter a prolonged whipsaw market, consolidating around the $8500-$9000, barring any drastic positive or negative news concerning Bitcoin regulation in the United States. This of course includes new securities regulations and overall crackdown on ICO’s, which the SEC firmly sees as unlicensed securities.
2. Regulation will soon constrict the availability of Crypto trading to the retail investor, whereas accredited investors will continue to have access to the full spectrum of risk – including ICO’s.
3. The bears failed to push Bitcoin below $6,000, and the volume at that price was quite low. Current prices represent the highest volume areas, meaning consolidation.
4. Neither the bulls nor bears show any great strength at this point in time, reiterating the other points in a different manner.