$30 isn't a lot, true. However, it's the velocity of the rise that gives me pause. There has been no resistance.
Now, that would make sense to me if traders who would normally short this "oversell" are afraid to enter shorts them might lose on in the next two days.
Meanwhile, people just hodl.
Now, that would make sense to me if traders who would normally short this "oversell" are afraid to enter shorts them might lose on in the next two days.
Meanwhile, people just hodl.
0.17% of bitcoins were traded (Bitstamp only) since 420 to effect a 6.8% price rise. The price inelasticity of supply is 39:1.
We have been enjoying the "sticky price" era for some weeks. Once the supply is no longer there, the tiniest demand kicks us out of the channel, very likely resulting in a snowball effect, so many times before seen with Bitcoin.
+1
This. And...
CCMF!!!!!1