Portfolio Update

LONG | from 13.18$ with 1 unit (100 btc) bought December 4, 2012


I’m still long since December, 4 2012, giving recent increase in volatility BTC/USD might reach my yearly target of 18.8$ very soon and well before the end of the 2013, support is around 14.5$ but i’ll watch the 13.2$ level as a potential stop loss, in the worst scenario i’ll stop at even.

Bitcoin Usd pair at MtGox recently made new highs for this second bull market, after the 2011 blowout, which started from the November 2011 low. With this increase in volatility i think we can expect this rally to continue at least into mid-spring if not longer, also because the money inflow is strong and positive, i don’t see aggressive selling since months, and monthly volume is not so high compared to the bearish period of June 2011-March 2012 confirming that we are fully in a long term uptrend.

I think that 2013 will be a very volatile year for bitcoin and that the low levels of volatility we have seen during the past weeks are not indicative of what lies ahead.


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