Friday’s bitcoin price fall, taking a rare break from its parabolic ascent, isn’t likely linked to events happening today, but rather one upcoming. Near the noon hour in New York, it was trading at $15,753 basis the US dollar, off 8.6% on the day. The move lower came after two key events. Analysts that spoke to ValueWalk, however, don’t view this as a major change in market momentum – not yet, anyway. What bitcoin traders should be watching closely is the introduction of bitcoin futures on Sunday, which presents institutional investors the opportunity to begin selling. Bitcoin price fall:…
Bitcoin Price Fall Of More Than $3000 Shocks Speculators, Investors
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.