3 December 2019 by Antoine
The crypto-community should not have to worry about the drop in the price of Bitcoin. According to Luke Martin, a trader and market analyst crypto, the price of the crypto-currency number one will experience a new impetus this week.
Orchestrated by the expiry of futures contracts
After studying the price movement of Bitcoin around the settlement dates of the futures contracts, Luke Martin has revealed that levels of higher prices appear punctually at each maturity, and this, independently of the misfortunes that had occurred during the previous week.
“Generally, the selling pressure occurs before, and positive returns after “, he summarized.
And as the majority of the early futures contracts of CME group will be expire very soon, an increase in some of the price of Bitcoin is therefore to be expected.
Next $BTC CME expiration is on Friday 11/29.
I charted out price returns before & after expiration since the contracts started trading.
Takeaway: Generally experience selling pressure before and positive returns after. pic.twitter.com/bK6gp2h4sH
— Luke Martin (@VentureCoinist) November 25, 2019
No winter for the futures markets
Certainly, a sense of decline has plagued the market in recent weeks and months, a situation that was however preceded by a huge increase in the price of Bitcoin at the beginning of the year. Miraculously, the futures markets of Bitcoin continue to show strong performance.
Not later than the last week, Bakkt had registered an unprecedented record in terms of volume of term transactions.
The record would have been reached in the day of 27 November, during which contracts of a value of $ 42.5 million have been transferred to a new owner, while another feat admirable just to make an impression on the 22 of November, is the transaction a value of $ 20.3 million.
Do you think that the success of the futures market, Bitcoin will have an effect on the movement of the market of Bitcoin in general ? Let us know your thoughts in the comment section below.
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