تقلب البيتكوين. من الذي يسحب الخيوط؟
Everyone knows the significant volatility of Bitcoin. Over the past week the price of BTC fell below 31 thousand dollars, and then a couple of days later rose to $34 thousand
During periods of previous notable fluctuations, volatility has been cyclical. Now it is influenced by the dynamics and activity of institutional investors.
The dynamics are generally positive, but only for a short period of time. These short-term fluctuations in value have caused a sharp drop in key ratings.
Bitcoin's value has a higher impact on current volatility than the actual price of a cryptocurrency. Despite falling below $31,000, the massive adoption by exchanges, funds, and the number of Bitcoin whales contributed to the price reaching $34,000 soon again.
Another indicator is active supply. This figure has increased significantly over the past two months. It also causes volatility and declines in spot prices.
What to expect in the future
An active offer can provoke increased pressure from sellers. Prices fluctuate, which is what happened during Thursday's sales.
As demand for BTC grows on spot exchanges, the pressure from sellers is expected to ease. Given the influx of institutional investment, demand may increase. Therefore, volatility will be higher, leading to short-term peaks in Bitcoin prices.
If the largest participants in the cryptocurrency market continue to own tokens, prices will rise. The current problem is the active offering of derivatives exchanges.
As the number of open positions on them increases to levels prior to the decline, supply may decline. This will happen at the end of the Bitcoin Options term, slated for the end of January.