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RE: Market Brief Series / EP. 282 / 12 - 03 - 2018

in #forex6 years ago

Many market participants expect that the introduction of Bitcoin futures trading will trigger a sharp correction, as it will ultimately be possible to take short positions. In fact, on the contrary, prices jumped by more than 20% and returned above the $ 17,000 threshold. Over the past 24 hours, the price has moved sideways between $ 16,200 and $ 17,500.When we look at the numbers, market interest in Bitcoin futures seems very limited. Trading activity was limited to market opening on Monday. During the first hour, the average hourly volume is around 300 Bitcoin but quickly declines as future prices explode, rising as high as $ 18,850. After that, trading activity fell continuously with about 50 contracts traded per hour.The figure indicates that investors are not interested in following short shortcuts, which indicates that further gains are expected. Bitcoin is currently experiencing an accumulated period of about $ 16,000 - $ 17,000. Regarding the price outlook, we remain bullish Bitcoin and expect the price will soon rise as money continues to flow to the crypto assets. It makes sense to target the $ 20,000 level by the end of the year. Nice @lordoftruth

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Nice comment I like the way of rationality used in your post

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