The individual patterns are all similar: the market is in a state of equilibrium, then something happens -- always accompanied by significant volume -- to move it quickly to another state of equilibrium. The cycle repeats.
Although there were elements of that pattern in March, the chart was more like a steady ascent, punctuated by dips that corrected within a few days.
Since there were no dramatic price jumps or drops during the month, let's look at the volumes. I count three periods of heavy volume (each bar covers six hours) and I'll include a fourth near the end of the month to give me one heavy period per week. They occurred at the following (approximate) times:-
2019-03-05 12:00 +
2019-03-16 00:00 +
2019-03-21 12:00 -
2019-03-29 06:00 +
As usual, Cointelegraph's Analysis category provided no insight. The site's Price Analysis tag had nothing special to say, concentrating more on moving averages and resistance / support levels. Several 'Price Analysis' reports mentioned the Bakkt 'institutional trading platform'. Although the name wasn't completely new to me, I haven't mentioned it on this blog. The Bakkt.com home page says,
Bakkt is building an open, seamless global network to enable you to buy, sell, store and spend digital assets simply, safely and efficiently. Backed by Intercontinental Exchange’s proven financial market infrastructure and technology, Bakkt’s secure global platform will connect investors, merchants and consumers, making it easier, faster and more cost-effective to access, trade and use digital assets.
The main entry on Wikipedia is under Intercontinental Exchange ('! : reads like a press release or a news article'), where we learn,
Intercontinental Exchange (ICE) is an American company that owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada and Europe...
The section titled 'Bakkt' says,
In August 2018 Intercontinental Exchange announced that it planned to form a new company, Bakkt, which is intended to leverage Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets. The new company will work with a marquee group of organizations [...] to create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.
The Cointelegraph 'Price Analysis' reports implied that this will be a significant development in the evolution of crypto-currencies. I expect it will be heavily promoted when it's finally available.
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