What is more interesting, almost half of bitcoin volume is from xmr. If removed, today volume of btc and xmr in some way equal.
Hmmm.. so XMR/BTC has become bigger than USD/BTC. Not bad at all here. Actually I feel the Earth trembling...
Because of breaking the ATH, I take back the speak about grinding down. There is no grinding down now, but extreme volatility ahead, in search of a completely new trading range. Whether it is near $100 million market cap, or a billion, or 10 or 100 billion - anybody's guess.
In trying to be realistic, I believe about $1 billion.
Why changed my mind so soon?
1. I did not. It was all scenario thinking all the time. This scenario leaves no prisoners so better adapt quickly.
2. The influx of so many new people in the scene, who do not know or care about me, proves the growth (and is liberating)
3. The volume was/is huge. At first I took it as proof of artificial manipulation, but now it's at least possible the volume is real growth. If so, we are still much behind the equilibrium value.
So going back to 0.004 is not very likely. After only a few hours after breaking the ATH, I am leaning towards the negative scenario being 0.01 now.