In our article “the sentiment of The Bitcoin sinks to 20 points” in which we presented the current context of the criptomercado, highlighting the implications of the sentiment of Bitcoin and the variations of the market. On this occasion we will seek to understand the reason of this fall of the criptomoneda, which seems to be associated to the recent news of the Future of Bitcoin. With recent news we refer to the associated Bakkt and companies associated with this new financial asset, including Binance. At the time of writing the article, a priori, the people assumed that these events would break the barrier of $10,000, however, it seems that the opposite has happened, being the harbinger of the fall. According to Dave Balter, of this software Crypto, this sale sudden could have been caused by the maturity of the futures contracts of Bitcoin by CME.
“On our side, it seems that it was a settlement to settle future cash that are due on the Friday for BTC,” said Balter Fortune.
Argues that the 50 percent of the open interest for the futures contracts of Bitcoin will expire on the 30th of August, which was definitely a harbinger of greater volatility of prices. Meanwhile, the CIO of Ark, Jeff Dorman, believes that the fall most recent was caused by a double whammy of the expiration of futures of CME and low trading volumes, alleging that when there is little liquidity in the market, it is much easier for the whale to pull all the threads.
“Volumes are low and it takes very little to move the markets at this time, and it has large maturities of futures / options at the end of the week.”
However, to this we can add the effect to panic to make it look more full, as was raised in our article at the beginning, which means that due to a sudden drop, users generate expectations extremists and begin to liquidate their Bitcoins to escape the drop, causing only an increase of the phenomenon initial. At the time of writing this article, Bitcoin has a value of $ 9.500, according to our tool Crypto Online, implying that if you want August, closing with a value of $10,000 requires a variation of 5.27%, which can be tricky with the bearish trend existing. The following two tabs change content below. I am a student of economics, interested in innovation and technological development, always faithful to that tomorrow will be a better day.
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