Bitcoin is relatively flat yet again during the trading session on Thursday, as we are using $16,000 as support. I think that eventually we will get a little bit of a pullback, but that should be a “buy on the dip” type of opportunity. Adding slowly is probably the best advice I can give, as we are clearly starting to lose momentum after the futures market opened.
Bitcoin is also flat against the Japanese yen, failing to break above the ¥2 million level. A break above there should send buyers back into this market, but right now it looks as if volume is shrinking. That’s interesting, considering that the excitement around the idea of a futures market seems to have been mis-founded. Patience will be needed.
Thanks for watching, I’ll see you tomorrow.