--- title: "Lifting the Offer: Bitcoin trading the week of January 4, 2016" description: Released every Monday, Lifting the Offer provides an in-depth bitcoin market recap and price outlook to prepare bitcoin traders for the week ahead. image: https://insights.paxos.com/hubfs/_itBit_LTO/Lifting-the-Offer-Week-of-1.4.2016.png --- [![itBit](https://insights.paxos.com/hubfs/itBit-Careers-Square.svg)](https://www.itbit.com/) [![itBit](https://insights.paxos.com/hubfs/itBit-Careers-Long.svg)](https://www.itbit.com/) [OPEN TRADING ACCOUNT](https://exchange.itbit.com/signup) [SUPPORT](https://www.itbit.com/contactus) [LOGIN](https://exchange.itbit.com/login) - [Exchange](https://www.itbit.com/exchange) - [OTC Trading](https://www.itbit.com/otc) - [Market Data](https://exchange.itbit.com/markets) - [Blog](https://www.itbit.com/blog) - [Exchange](https://www.itbit.com/exchange) - [OTC Trading](https://www.itbit.com/otc) - [Market Data](https://exchange.itbit.com/markets) - [Blog](https://www.itbit.com/blog) # [ITBIT TRADING BLOG](https://www.itbit.com/blog) ## Lifting the Offer: Bitcoin trading the week of January 4, 2016 January 4, 2016 at 12:00 PM | [Bobby Cho](https://insights.paxos.com/blog/author/bobby-cho) ![Lifting-the-Offer-Week-of-1.4.2016.png](https://insights.paxos.com/hs-fs/hubfs/_itBit_LTO/Lifting-the-Offer-Week-of-1.4.2016.png?width=1000&name=Lifting-the-Offer-Week-of-1.4.2016.png "Lifting-the-Offer-Week-of-1.4.2016.png") The bitcoin market was relatively quiet over the last week with volumes and volatility sitting at lower levels. With many traders starting the year with only dry powder and little in the way of long positions, the market may swing higher this week and could continue to edge up throughout the month. [OUR LATEST BITCOIN RESEARCH DELIVERED TO YOUR INBOX. SUBSCRIBE NOW!](https://www.itbit.com/blog/lifting-the-offer-bitcoin-trading-the-week-of-january-4-2016#subscribe)   ![Tradeblock-1.4.2016.png](https://insights.paxos.com/hs-fs/hubfs/_itBit_LTO/Tradeblock-1.4.2016.png?width=908&name=Tradeblock-1.4.2016.png "Tradeblock-1.4.2016.png") ##### ***[Source: tradeblock.com](https://www.tradeblock.com)*** ### Bitcoin Price Recap The price of bitcoin moved steadily between $420 and $435 last week. The range-bound activity left traders with only minor opportunities to scratch out profits before the new year. Most institutional traders closed their books weeks ago, trading out of long positions held since Q1 2015 which would have yielded returns of roughly 35%. ### Bitcoin by the Numbers ![Bitcoin-Price-and-Market-Cap-1.4.2016.png](https://insights.paxos.com/hs-fs/hubfs/_itBit_LTO/Bitcoin-Price-and-Market-Cap-1.4.2016.png?width=1037&name=Bitcoin-Price-and-Market-Cap-1.4.2016.png "Bitcoin-Price-and-Market-Cap-1.4.2016.png") ### Bitcoin Trading Week Ahead The bitcoin market may experience a gradual boost this month as traders look to place early bets on the price and lock in their long-term positions for 2016. With bitcoin and blockchain technology poised to be in the fintech spotlight this year, the market will likely spend the month assessing the landscape and reacting accordingly. This week, bitcoin traders can find support at $423 and resistance at $440. ### Best Bits from Last Week - [Newsweek: Should the Fed Issue It's Own Bitcoin?](http://www.newsweek.com/fed-should-issue-its-own-bitcoin-lets-call-it-fedcoin-410289) - [CNBC: Why Bitcoin’s Tech Could ‘Change Everything’ For Banks](http://www.cnbc.com/2015/12/31/blockchain-what-the-big-banks-say-about-the-tech.html) - [BBERG: From Worst to Best - Bitcoin's 2015 Comeback](http://www.bloomberg.com/news/videos/2015-12-29/from-worst-to-best-bitcoin-s-2015-comeback) - [Coindesk: Visa Europe - The Blockchain is 'No Longer a Choice'](http://www.coindesk.com/visa-europe-blockchain-no-longer-a-choice/) ***Bobby Cho** *is the Director of Trading at itBit and leads our* [*OTC Agency Trading Desk*](https://www.itbit.com/h/otc)*. Previously, Bobby was Vice President of Trading at SecondMarket where he helped create the first broker-dealer based institutional bitcoin trading desk. He has extensive experience in both bitcoin and securities trading with clientele that includes Fortune 500 companies, hedge funds, asset managers and other financial institutions.**   ## Trade on itBit’s OTC Agency Trading Desk and Receive $50 ### Trading over 100 bitcoins? Use itBit’s OTC desk and receive $50 in bitcoin after your first trade!  ### Personalized Trading Support | Low Fees | Same-Day Settlement #### [![LEARN MORE](https://no-cache.hubspot.com/cta/default/424565/f966d116-49ad-4807-a82a-a7ba4bcbe627.png)](https://cta-redirect.hubspot.com/cta/redirect/424565/f966d116-49ad-4807-a82a-a7ba4bcbe627)     *\*All data and references are current as of 9:00AM EST on 1/4/2016.* *[Lifting the Offer Legal Disclaimer](https://insights.paxos.com/hubfs/_itBit_LTO/Lifting_the_Offer_-_Legal.pdf?t=1428961216609&t=1429305046006&t=1429914456000&t=1430514280949&t=1431121431128&t=1432670425436&t=1433193396507&t=1433598447041&t=1433979988407&t=1434988331422&t=1435616577297&t=1436799089921&t=1437165948432&t=1438380255567&t=1438901527874)* ### Bitcoin Trading Research Delivered to your Inbox ### Categories ### Subscribe to itBit Blog **Products** [itBit Exchange](https://www.itbit.com/exchange) [OTC Trading](https://www.itbit.com/otc) [Custody Services](https://www.itbit.com/custody) [Escrow Services](https://www.itbit.com/escrow) **Resources** [Market Data](https://exchange.itbit.com/markets) [Support Center](https://help.paxos.com) [API](https://www.itbit.com/api) [itBit Blog](https://www.itbit.com/blog) [Fees](https://www.itbit.com/fees) **Company** [About itBit](https://www.itbit.com/about-itbit) [Press](https://www.itbit.com/h/press) [Careers](https://www.itbit.com/h/careers) [Customer Support](https://www.itbit.com/contactus) [Legal](https://www.itbit.com/legal) **Crypto Assets** [Bitcoin](https://www.itbit.com/bitcoin) [Ethereum](https://www.itbit.com/ethereum) [Bitcoin Cash](https://www.itbit.com/bitcoincash) [Litecoin](https://www.itbit.com/litecoin) [Stellar Lumens](https://www.itbit.com/stellar-lumens) - [![](https://insights.paxos.com/hs-fs/hubfs/_00_PAXOS/Medium%20Updated.png?width=28&height=28&name=Medium%20Updated.png)](https://medium.com/paxos/itbit/home) - [![](https://insights.paxos.com/hs-fs/file-2672941852-svg/_itBit_Social_Icons/twitter-02.svg)](https://twitter.com/itBit) - [![](https://insights.paxos.com/hs-fs/file-2654911471-svg/_itBit_Social_Icons/linkedin-04.svg)](https://www.linkedin.com/company/itbit-pte-ltd) Copyright © 2020 Paxos Trust Company, LLC. All Rights Reserved. NMLS #1766787 Crypto asset trading involves a high degree of risk. The crypto asset market is new and unproven and may not grow. Currently, there is relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. In order to participate in the trading of crypto assets, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment. No material at this site should be considered as an offer by itBit to sell or solicitation by itBit of any offer to buy bitcoin or other crypto assets.