RATE Group | Fundstrat & eToro Analysts Predict Coronavirus Crisis May Strengthen Bitcoin
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Fundstrat & eToro Analysts Predict Coronavirus Crisis May Strengthen Bitcoin

21 Mar Fundstrat & eToro Analysts Predict Coronavirus Crisis May Strengthen Bitcoin

Posted at 18:41h in Bitcoin News by

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What has been driving recent Bitcoin price action? Or perhaps more importantly, who? And why does it matter? 

Lead Digital Strategist at Fundstrat David Grider and Platinum Account Manager at eToro Simon Peters break down Bitcoin’s next move, how the coronavirus and financial crisis may impact the halving, and how Bitcoin’s fundamentals will affect its long-term prospects.

Who Is Behind Bitcoin Price Movements?

Bitcoin has experienced an incredible amount of volatility over the past two weeks amidst the coronavirus pandemic and global financial crises. A Chainalysis report found professional traders and investors were usually the drivers behind recent major price movements, despite only moving about 5% of the total supply of Bitcoin.

David took issue with the vague label of “professional trader/investor”. He reminded us that traditional or institutional players are not the only ones who can drive the market with high volume trades:

“I think that probably you’ve seen an…

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