I have been keeping an eye on BTC price and volume action. I already noted that we should be wary of trading volume. I do not trust this rally. I can see BTC going a fair amount lower before it starts to grow again. Consider the following chart, which you can click on to take you to a larger version.« Continue »
Over the past year, the price of bitcoin and other cryptocurrencies, with respect to the US dollar, have skyrocketed. For the most part, the increase in price has coincided with an increase in trading volume. However, since the peak in late may, trading volume for bitcoin has actually declined somewhat, even as the price has continued to grow.« Continue »