In your opinion what do you think?
The bitcoin price has increased by more than 10 percent over the past 24 hours,as the majority of cryptocurrencies in the global market have recovered from the recent correction. But some of analyst speculated that large scale traders sold off massive amount of bitcoin to cash out short contracts on the Cboe and CME bitcoin future exchanges.
Many reports,that the cryptocurrency trading ban FUD coming from the Chinese and South Korea markets led to the decline in the price of bitcoin and other major cryptocurrencies.
Everyone talks about Bitcoin death or Bitcoin rise, but every fall has been solid, when compared to the entire alt market, which experienced crashes not just in fiat value but against Bitcoin value. When Bitcoin recovered, so did the alts. So everyone really has to not forget the importance of Bitcoin here.
It's true that a lot of the shorts in futures made money, but I doubt those investors really had to liquidate Bitcoin to pay their lost bets, what merely happened is they sold Bitcoin to get back into those futures, and are now going to be buying long for sure.
