Crypto

What do analysts say about Bitcoin's hard fall?


Bitcoin lost 20 percent of its value before it recovered today. Crypto money fell to $ 6178 in Bitstamp.

Ryan Rabaglia, OSL, Asia's leading digital asset brokerage company, speaking to Reuters, said, kadar The sudden decline does not seem to have originated from any news. Instead, it seems to be driven by large sales orders by a handful of people or just one person who either realizes their profits after the last increase or wants to buy at lower prices. Eyen

Jehan Chu, co-founder of Kenetic Capital, who spoke to CNBC. kaynak This last fall was probably due to a combination of profit-taking and algorithmic trading. We can expect that such sharp increases and declines will continue until institutional investors increase the market volume. Ken

Bitcoin is traded over $ 8,000, while some analysts see the bitcoin chart of CME, the world's largest futures market, at $ 6,000. he was attracting attention. “Bitcoin has doubled in the last five months,. Said the analyst at CNBC. So I'm waiting for a little retreat and have a very interesting price gap down from 6870 to 6425 dollars. In

Another analyst, Josh Rager, said this price gap was filled with the current CME is a market that directly affects crypto coins with its volume. According to the latest data, the number of Bitcoin contracts in the stock exchange was 24 million dollars. Compared to Bitwise's data, this figure is $ 730 million in Binance. In the meantime, the CME broke the historic record by reaching a volume of $ 1 billion 400 million on May 13.

The price gap seen in the CME chart, source: Josh Rager