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Arthur Hayes, CEO of BitMEX, confirmed the liquidation of $ 230 million of Bitcoin Futures short positions. This apparently happened within 15 minutes. He also said that the price of bitcoin would drop after a brief rally and make other forecasts for the future
Bitcoin Futures, ETF and Bitcoin course – we recently discussed in detail possible connections between these three important factors in the ecosystem. In addition, at the time of the sudden pump of more than 10 percent and the increasing price of bitcoin, futures were the main cryptocurrency. In a video on CNBC, Arthur Hayes confirmed that BitMex had dissolved short positions on Bitcoin futures worth $ 230 million in 15 minutes. So, there is a link with the rise in the price of bitcoin, but we must also consider that the total can not compete with the current volume of bitcoin 24 H, or 3.4 billion. [19659003] Nevertheless: BitMEX is not the only provider of futures. In a tweet of July 20, the CME Group confirmed a rapid rise in futures contracts that allow us to bet on price action:
The average daily volume of Bitcoin futures in the second quarter increased 93% compared to the previous quarter. contracts, an increase of 58%. To learn more about the exchanges #Bitcoin future: https://t.co/adjWVWXBPQ pic.twitter.com/UQWC3nGGrI
– CMEGroup (@CMEGroup) July 20, 2018
As shown in the graph, the volume of futures transactions increased by 93% in the second quarter of 2018.
Arthur Hayes commented on the Bitcoin award
More CNBC videos Arthur Hayes expressed his evaluation of the performance of the largest cryptocurrency by market capitalization. At first, he estimates the price could be around $ 10,000. After that, however, it is going down for the moment. He predicted that "the worst is not over yet" – he expects an anticipated drop in Bitcoin price to about 5,000 US dollars. However, if this resistance has been successfully tested, the Bitcoin course may resume its speed. He even predicted an increase of $ 50,000. Here is the complete video.
At the time of writing, the Bitcoin price is currently 7456 US dollars. It has been able to increase 18.4% in the last 7 days. That's 23.19 percent during the month. Total market capitalization currently stands at just under $ 128 billion
BTC-ECHO
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