In opinion of head analytical company Fundstrat Thomas Lee, the last falling price on bitcoin (BTC) is related to expiration term action of the bitcoin futures.
Thomas Lee explained that “painful” weakening course Bitcoin (BTC), that fell down on 20% before this week by the quick offensive of the terms redemption bitcoin futures. Lee reported that “substantial volatility” had shown up before each of 6 DATS expiration terms of the futures, since the exchange CBOE started the contracts futures in December 2017th.
“Bitcoin tests radical price changes in moments expiration terms action bitcoin futures CBOE. We collected some data, actually, seems, is so”, – Thomas Lee declared.
Tom Lee explained that, on the average, Bitcoin tests falling in 18% 10 days prior to expiration term of the futures, at it after redemption contracts price restored during 6 days. Tom Lee wrote, that with approaching a closing quick contracts date the holders bitcoin can sell the large volume cryptocurrency on a middle-marketing course (to it falling of price is related) and released from bits and pieces on the offensive of this date. Lee also marked the small volumes of the investments in a cryptomarket this year.
A crypto market was a bit restored today, adding to market capitalization about 20 milliards dollars, and price that fell down to 6 263 this week, rose on 5% for 24 hours.
We will remind that in June US Commodity Futures Trading Commission (CFTC) inquired the unfolded information on trade operations at 4 basic crypto exchanges – Bitstamp, Coinbase, itBit, and Kraken, that gave data for forming prices on the bitcoin futures CME, produced in December of 2017th, – within the framework of prosecuting an inquiry for the purpose manipulation prices at the market digital currencies.