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Title: [2016-08-22] Bitcoin Markets Remain Stagnant Around $570, Although Conditions... Post by: sirohige on August 22, 2016, 03:24:23 PM We are now in the slowest trading period of the year for both the legacy and cryptocurrency markets, which means volatility and volume should remain light until after the Labor Day weekend in the US.
Bitcoin has once again flatlined around the $570 level as the summer doldrums roll on. Traditionally the late August timeframe is the slowest time of the year for the financial markets considering it is the most popular time of year for pre-“back to school” vacationing. Up until recently this phenomenon has avoided the small crypto markets due to a lack of traditional players, although over the past few years bitcoin has followed suit in terms of late summer stagnation. While we want to remain neutral and patient on the market over the near term, we are fairly certain that a breakout move will materialize over the next 2 – 3 weeks, at least out of the $550 – 600 trading range that we have been consolidating in since just after the Finex hack. https://cointelegraph.com/news/bitcoin-markets-remain-stagnant-around-570-although-conditions-are-slowly-improving |