Gather round everyone. I'll tell you how this will play out. The exchange rate will languish for a while. New money will flow to the exchanges as interest is increasing, but new buyers will be hesitant to buy, as they may suspect the price is in a downtrend, and so will hold of buying in the hope that they can get the most bitcoins for their money. This will go on for a while, maybe many months. The total amount of money waiting to buy will build over this period, and this won't be obvious by merely looking at bids on the order books.
Eventually, the distance of time will minimize the fear of this most recent run-up. A few people will buy largish amounts, then a few more, and so on. The bids will begin to pile up on the order books, and a new phase buying like we've just seen (and like we've seen many times before) will begin, which will quickly accelerate after old highs are broken.
Then repeat.
Eventually, the distance of time will minimize the fear of this most recent run-up. A few people will buy largish amounts, then a few more, and so on. The bids will begin to pile up on the order books, and a new phase buying like we've just seen (and like we've seen many times before) will begin, which will quickly accelerate after old highs are broken.
Then repeat.
You are scaring me! What happened to our bearlama?
. 850 or so is a great floor to maintain going through the holidays. Things are going to explode next year as a new tax season begins for many regions. Buying during the lull is highly advised for the little guys. Remember the super big guys don't do much during the holidays as they are complacent and look to take the time off.
