Well who would have thought we have a #Bitcoin daily volume plateau between US $15B and US $30 B start to develop in April of 2019, now in it's 8th month?
With the 2019 winter holiday buying season in full swing, generally worldwide these days, buyer and seller "equilibrium" has been in play for the past couple of weeks, prefaced by a 7+ month volume average of the BTC volume oscillating between 15 and 30 Billion, staying easily over the US $7K per BTC price.
With the Market Cap of #BTC of approx. 131 Billion today , my quick "back of the envelop" math says @ US $ 30B daily volume about 22.9% of BTC's total market value is moving, which is quite a healthy interest AND use of bitcoin as a currency, with as many buyers as sellers steadying the "bottom" of the BTC market cap graph. Even at US $15B an 11.5% interest and use rate for BTC is really quite healthy, given all the hodling going on by some big Whales.
Will BTC go a bit lower?
I't's likely BTC might dip below 7K a few times briefly on the way to the New Year end of 2019, but not much, as there is real resistance in the form of ready and able buyers which has been in place above US $7000.00 for over 8 months.
This "buyer" appetite for BTC these last 8 months is a very healthy sign, an appetite which includes the Winter Holiday Dip, seen as a real BTC investor opportunity this 2020, a dip we have all experienced the last three years at this time of year.
Good Time to buy?
Imo, which is not "investment grade" advice, the answer in my mind is "Yes", provided you are willing to hold at least into the next peak which will be prior to the summer run up to the US 2020 election starting in August, where I would expect the price to drop a bit on the way up, just before the US Summer holidays in June, as investors shave their BTC holdings into fiat to afford those expensive summer holidays and the toys which go with them.
A January to June Ramp Repeat is looking likely, in 2020..,
I expect the Jan to June run-up of 2019, to repeat itself in 2020 (its human nature after all, especially with 67% BTC dominance in the crypto market place), which suggests a price of BTC US $14K by June of 2020, Double your money, double your fun in just 6 months is the upside, the caveat being we collectively avoid Economic Disasters on a global scale, and trundle along "business as usual".
That's all for now,
TK over and out