RATE Group | Bitcoin Price Awaits Breaking Point as Volatility Hits 14-Month Lows
39649
wp-singular,post-template-default,single,single-post,postid-39649,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Price Awaits Breaking Point as Volatility Hits 14-Month Lows

22 Aug Bitcoin Price Awaits Breaking Point as Volatility Hits 14-Month Lows

Posted at 14:52h in Bitcoin News by

[ad_1]

It seems like this entire year has been devoted to rational thinking people searching for rational answers. Why are crypto prices so consistently under such unrelenting selling pressure? There has been no shortage of explanations.  Unfortunately most of them fall far short of the task.

We all remember all those rational thinkers at the San Francisco Federal Reserve who teamed up with Stanford University in a study that concluded that the CBOE was responsible.  The thinking goes that creating a futures market for Bitcoin lead to the collapse.

That study was grossly misleading.  During the first month of Bitcoin futures trading, there were fewer than 900 contracts traded, most of which remained open contracts.  That is less than 0.01% of Bitcoin’s daily volume. Come on folks, you can’t be serious.

More recently on a rainy weekend,  I came across an article noting how short sellers were ganging up on Bitcoin. True, the short position had about doubled in just…

[ad_2]

Source link