December rounded off a very good year for my clients with BTC investments. The question “would BTC break through its 2017 all-time high of $19,900?” was emphatically answered in December.
Interestingly I observed more margin trading in the middle of the month, to break through the long standing 2017 high, than I did in the subsequent run up to the year end $30k level. A lot of the buying was physical rather than on margin as institutional investors entered the market in size. This bodes well from both a risk management and long term perspective.
January has started well too; a USD supply vs borrowing demand imbalance over the long Xmas and New Year bank holiday period caused rates to briefly spike over 100% pa gross. Shrewd investors were able to take advantage of these rates (hopefully) I was amongst that number!.