Bitcoin Price - December Summary and Trading Suggestions
This article will be my last written here for several weeks (at least). I would like to recap our work here during the month of December, and indulge in a little philosophical discourse about trading markets in general and Bitcoin in particular. When I was in graduate school, I was taught that markets were impossible to predict. It was a "random walk". The best we could do was to invest for the long term and hope that the long term trend remained up. I didn't question this at the time. I had never traded, and had no idea that it was something I would one day get me excited. One day a....
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Bitcoin seemed to stabilize around Christmas Eve around December 24th, but steadily decreased to a floor around $318, going back up to $330 and plummeting down to $310. As described in my last market analysis, I predicted this movement two weeks ago. People liquidating holdings for holiday cash, as shown by the massive sell-offs today. Since the end of November, we have fallen from a price of around $380 and reached a price of $318.73 as of the time of writing. This is a 16.2% decrease in price in just a month, which averages out to a 4.05% decrease every week since the end of November. If....
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