Bitcoin, the reason for the volatility last night and signs of repulsion[Cryptocurrency market]

author Yasuo MatsudaFXcoin Senior Strategist

After working at Mitsubishi Bank (Headquarters, Bancock Branch) and Deutsche Bank Group (Singapore, Tokyo), he has been in his current position since July 2018.Familiar with a wide range of financial markets such as short-term countries, repos, foreign exchange, US Treasuries, European bonds, and MBS

Review

Fluctuations in Wal-Mart coverage

Yesterday’s BTC market was in conflict. According to media reports about Wal-Mart, it rose to around $ 47,000 and then plummeted to below $ 44,000, but after that it was flat around $ 45,000. Trading continues in. Polkadot (DOT), which rose by more than 20% on the weekend, fell back on Monday morning, dropping the price from around $ 46,000 to the $ 45,000 level, but Cardano (ADA)’s smart contract implementation was safe. It recovered to the $ 46,000 level due to the completion and the backlash from the DOT. However, as ADA dropped to Sell the Fact, BTC also fell and trading continued in the $ 44,000 range. When information came out that Wal-Mart would accept LTC payments in overseas time, LTC soared by more than 20% and BTC soared to around $ 47,000, but when the company and the LTC Foundation denied this, it plummeted and temporarily fell below $ 44,000. .. However, when BTC purchases of MicroStrategy increased, British hedge fund, Brevan Howard’s aggressive investment in crypto assets, and Morgan Stanley’s establishment of crypto assets research department turned upward, NY Dow became positive compared to the previous day. It has recovered to the $ 45,000 level.

Outlook

The insights and interpretations of this article are by the author and do not necessarily reflect the views of Cointelegraph.