21Shares strategist: Bitcoin's trend may be difficult to predict
Matt Menah, 21Shares' cryptocurrency strategist, said that it is difficult to predict the performance of Bitcoin due to the randomness of short-term trends. He said that cryptocurrencies react to major catalysts such as macroeconomic data, central bank decisions, and regulatory developments. However, Bitcoin also has "very technical characteristics," so chart levels play an important role in its trends compared to traditional assets. Another factor to consider is that it trades around the clock on a series of globally dispersed exchanges, each with different levels of liquidity. This, coupled with increasing algorithm participation and on-chain data signals, means that price movements may sometimes be driven by technical, positional, or automated strategies rather than fundamental news.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Announcement on Bitget listing LLYUSDT,MAUSDT,UNHUSDT STOCK Index perpetual futures
Announcement on Bitget listing CSCOUSDT, PEPUSDT, ACNUSDT STOCK Index perpetual futures
Stock Futures Rush: Trade popular stock futures and share $250,000 in equivalent TSLA tokenized shares. Each user can get up to $8,000 TSLA.
CandyBomb x RVV: Trade to share 25,800,000 RVV!
