Quote from: gabmen on March 08, 2019, 05:37:31 PM

The thing is, no real money is coming in to the market. Very few new investors. It would probably take more than a few good news to really bring back the confidence that was lost because of this ongoing trend. The run to 4.1k isn't at all bullish. There have been runs like that last year where we're still dominated by bears. And i agree that we may not have seen the bottom for this year yet.

I'm sure there is plenty of new money coming into the market, but that's largely through private deals (i.e. OTC trading). The on-chain transaction volume is indicative of high volume trades, but the money doesn't touch spot exchanges, and that's what's driving the price at the end of the day.

Important indicators are stablecoins. As long as the total circulating supply is the same, there isn't all that much money entering the market that we can see. Before $6000 broke USDT's total circulating supply was hovering between 2.3-2.5 billion, right now that's just under 2 billion. In other words, up to 0.5 billion has left the market.