Bitcoin May Not See Much Action Over the Next Few Months
It was a strange scenario that many in the industry are still talking about, and at press time, no reasons have been given for the sudden change in bitcoin’s demeanor. He explained:
In the long run, however, he believes short-term selling will likely plague bitcoin for some time and that the fight between the two sides could prevent BTC from experiencing any serious hikes before the year is out.
Rather, bitcoin and other forms of crypto often incur heavy spikes about six months to a year after a halving occurs, and he believes this scenario will be no different. Danny Masters – chairman of Coin Shares – comments: Michael Sonnenshein – the managing director at Grayscale – has said that the amount of bitcoin being traded by the firm’s institutional customers has exploded, growing from around $2 billion at the end of the first quarter of this year to about $3.5 billion at press time.