No BTC Volume = NO Alt coin Volume, just micro pumps to entice some Bulls into driving up the volatility so they can then trade themselves, up or down wont matter as the US Stock market and its indexes including commodities just took a plunge, fang stocks and event tech stocks took a hit.
Apple went up 4% after a positive earnings reports but it may not go too far with continuing trade tensions with china. Donald Trump has been pressuring the Fed Chairman Jerome Powell to maintain stability in our US Economy by pressuring the Fed to cut rates which was executed today by .25 basis points.
This in turn tells me that Bitcoin & Crypto will experience its very first recession and could be impacted positively or negatively as investors may do any of the following:
1) Move their investments into cash and " Hold"
2) Hedge their money into Crypto/BTC until the turmoil subsides ( Causing a temporary spike in crypto) which would only be artificial as most smart money don't trust crypto at the time being and maintain a speculative sentiment towards it
3) Crypto and Outside investors retail or institutional investors may need to sell their Crypto/BTC to sustain themselves throughout the recessionary period
If the recession extends itself for too long no one will want to invest anywhere and that will cause a bear market all across the board. Now if the dollar collapses 100% and society becomes 100% dependent on crypto then Crypto will explode in price & value but until that happens crypto will continue to swing based on market sentiment, news & rumors.
At this time we are all in the same boat just slowly rocking up & down waiting for the tsunami of a sudden bull pump or bear drop. I guess we will have to wait and see.
My bet is that we are still going down due to the low volatility and uncertainty, little to no volume but im no genie so lets all play it safe and execute your plays based on your risk tolerance and current positions. WT and myself will do what we can but it is solely youre decision on a final execution, the market is risky all across right now.