Fundstrat’s Thomas Lee: Weakness in Bitcoin Is Caused by Futures Expiration

in #cryptocurrency6 years ago

Lee explained that the “gut wrenching” weakness in Bitcoin (BTC), which dropped upwards of 20 percent earlier this week, was the result of futures contracts expiring.

According to Lee, Bitcoin usually sees a drop of around 18 percent in 10 days before futures expiration, with prices generally recovering by six days afterward.

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https://cointelegraph.com/news/fundstrat-s-thomas-lee-weakness-in-bitcoin-is-caused-by-futures-expiration