Why Bitcoin dropped to $ 7,000 over the weekend
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Over the weekend the price of Bitcoin fell below $ 7,000. As always, we are interested in the reasons of such behavior of cryptocurrency, which once cost 20 thousand, and in the end of the year should reach $ 50,000 thousand. Some assumptions have colleagues .
theover-the-counter sales
Short-term traders and casual investors for the sale or purchase of Bitcoin using popular exchange like Coinbase and Binance. The Tabb Group report suggests that OTC market Bitcoin in 2-3 times more. This allows big players to manipulate the price of Bitcoin on the market, without disturbing individual investors and a public stock market.
We are Talking about investors and institutions who buy or sell at least several thousand . They rely on over-the-counter market, as on the exchange of such a transaction can cause sharp fluctuations. When a large order on the OTC market eliminated it a few days reflected in the market of cryptocurrency exchanges.
theManipulation on the market
Over the weekend, the cryptocurrency market appeared the new York stock exchange, and Microsoft. These companies are making efforts to improve the usability of the cryptocurrency assets to ordinary users, which should increase the prevalence of these assets.
With such news, the cost of Bitcoin could rise, but this did not happen. It turns out that any kind of news will have less impact on the value of Bitcoin, but trade in the OTC market very significantly affect the rate.
How Many you lost on the subsidence of the course? Share sad numerals .
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