I've been expecting a new all time high for a while and it hasn't happened, but I believe it will happen soon. From everything I have seen it looks like liquidity is weak and demand is high. OTC liquidity is harder and harder to come by. Big money still wants in as the store of value use case continues to prove itself, especially in India, China and Italy.

Mining investment continues, we saw a 10% jump in difficulty at the last adjustment. My pet theory is that it is miners who are providing the liquidity despite most of them being long term bullish, not just to pay expenses but also in an attempt to keep the price artificially low to protect their market share by keeping mining less profitable for new entrants due to upfront costs. But with each dump attempt, the liquidity gets soaked up and held. I believe that this market share protectionism is also primary in the blocking of SegWit as well.

The boom is coming though, first from smart money and then mainstream money short behind. The next three months will see the launch of the major projects that will make owning at least a small amount of BTC a must for many. These are t0, MegaUpload2/BitCache and Yours.

First will be t0, which will be the home of an offering from Overstock. This chain anchors into Bitcoin and will prove out the digital land use case of Bitcoin. On chain anchoring will become the standard for all blockchain projects in the financial sector, and as other chains are forced to anchor investors will get it and come in just in time to make money before adoption becomes mainstream.

With MegaUpload2 succeeding in its crowdfunding campaign, it vs set an end of January launch date. This is going to be the first undeniable use case for mainstream users. Anyone who wants to download from MU2 will need to have at least a buck or two of Bitcoin.

Finally Yours will bring it home. Content creators will monetize on this platform and content consumers will be forced to buy Bitcoin to continue consuming their content. Yours will kill Q&A services like Quora, digital marketplaces like Shutterstock and likely many other business types we can't quite determine yet.