Futures contracts on Bitcoin on CME opened with a huge gap the second time this month. This is due to the fact that trading Bitcoins on cryptomeria is carried out continuously 365 days a year, 24/7, while the futures market is closed on the weekends. After this weekend the futures market opened with an increase of $520 or by 6.39% since, closing at $8140 on the CME earlier, he started at $8660 on Monday.
Now traders will have to decide whether they want to buy futures in this gap or should wait. Despite the fact that such gaps are common in the Forex market, Bitcoin definitely stands out against this background, the unpredictability of the movement.
The unpredictability of the stock market confuses traditional traders
Parabolic rise in BTC has been unprecedented since the beginning of the month. According to Peter Brandt, a well-known analyst who first called the level of the bottom of Bitcoin, its price reached the top of the parabola and then there will be more significant correction, stopping the bullish trend.
This does not indicate in fact, some of the trends, bullish or bearish will prevail, but emphasizes statistical and psychological factors experienced by traders accustomed to trading on the traditional stock market. Traders that are configured for lower prices this year, would have incurred huge losses in the hope of a correction, while still the rising cost of BTC. Even now Bitcoin can further extend the growth to new record highs. Those who are afraid of the bearish trend, is facing a serious challenge, as Bitcoin can break above $10000 in a short time.
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