What an amazing days we are living now!
BITCOIN willing to surpass 8000 USD right now and still there are people that is claiming for a Bull Trap coming?
Well, a correction shall come, that’s for sure, specially if we want to maintain a sustainable growth. But do you know what is shocking me most during this rise?
Have a second look at the daily chart of the Total Crypto Market cap:
Oh man! the Volume, the volume is massive!The crypto market is accelerating its growth a pace never seen before!
Only BITCOIN itself is moving 28 Billion$ of 24 hour volume and, despite some of the BITCOIN price is coming from the Altcoins transference, the increase on Market cap cannot be only justified by that fact. If the ALTCOIN drainage were the only justification then the total Market Cap would be keep moving within a very narrow frame.
BITCOIN is rising because mostly fresh FIAT is entering into the market, clear it is that the first destination is the Crypto King but other big altcoins are rising more or less at the same rate as BTC, for instance BINANCE, BCH, or DASH or MONERO right now.
One week ago, the total market was dancing around 180 b$ and the total daily Volume was below 50b$.Today we 230$B and a Volume of 80b$, exactly 60% more volume!
To put you in perspective, on early December 2017, the maximum daily Volume experimented was around 52 b$, in the middle of a month on which the crypto market passed from 220B$ to almost 800b$ within 30 days!!.
Perhaps I am becoming very optimistic right now but this is a new situation never seen before, at least on crypto, the trend is clearly upwards and there is no sign of exhaustion on the daily volume… It will come, for sure and then, we will have our entries ready to be filled.
Perhaps we have to be ready for a BTC-ALTCOIN transference in a few weeks, STEEM among them.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.