US dollar lending interest rates are falling like a second or even third week in a row at Bitfinex, with more and more dollars wanting to be lent out (right now it's over 6 million dollars at ~0.07 daily interest). A month ago the rates were 3 times as much (people were borrowing dollars to buy bitcoins to sell them at a premium).
Interesting observation. I expect that there will be some volatility and definitively there could be a little "crash" down to 2000 or 1800, but I don't expect it to go much lower than that. For now, on about July 5 a triangle/flag is about to close. We'll see if that leads to a movement (more likely to the downside than to the upside) or if the trend "flatlines" waiting for fundamental news.
The rates have crashed to below 0.04% already (with 28M dollars in the queue), and they are now roughly equal to Bitcoin rates (don't know how to interpret that, though)
From the "slightly bullish" price movement at the beginning of this thread we moved now to a "slightly bearish" trend, but still nothing to worry about - no relevant price mark has been broken so far.
The market is still in "wait and see" mode. I guess it will stay there for the next three weeks, until there is real news respect to Segwit2x deployment. It's understandable, as normally it would be a good moment to take profits, but on the other hand, doing that one risks "missing the train" if Segwit2x leads to another rally - and as we know because of the "buy the rumours" effect, the rally can begin any day, if some insider has interesting information (or wants to make us believe he/she has)
I wouldn't be so certain of that
US dollar lending interest rates are falling like a second or even third week in a row at Bitfinex, with more and more dollars wanting to be lent out (right now it's over 6 million dollars at ~0.07 daily interest). A month ago the rates were 3 times as much (people were borrowing dollars to buy bitcoins to sell them at a premium). This basically tells us that traders are moving from Bitcoin to fiat as a safe haven. Also, we could look at Bitcoin volume traded during the last few days. If this value went down (which seems to be the case), we could expect an abrupt crash in the Bitcoin price when someone relatively big starts selling out and then panic sell-offs inevitably kick in
The fiat nowadays is preferred by the traders
because of the segwit application, one when the segwet will be over after the month of august I hope that people will once again start buying the Bitcoin and what if the price of the Bitcoin went high during the month of august?
Obviously, this is not about Segwit activation as such
If it were only about that, without all the drama we have been witnessing for at least half a year (think Bitcoin halving here), we would have likely already seen prices well above 3,000 dollars per coin due to hype alone. Right now prices seem to be on the verge of collapsing since the market is very thin. It kinda looks like Ethereum trading volume exceeded that of Bitcoin recently (though I didn't check for myself, just read about that), and if some really negative news emerges (say, Jihan comes up with a fresh idea of forking Bitcoin, again), the prices will likely start to drop like flies
