I was watching the tape after the news out of Iraq, BTC initially went down, gold immediately went up. It took crypto's about two hours to rise. IMHO, people are buying crypto, trying to front-run the risk-on trade hoping to sell into the momentum......Time will tell depending on the news and geopolitical events that unfold these next few hours and days.
You are viewing a single comment's thread from:
The bitcoin market tends to not be quite as efficient as other markets that are more institutionalized, which is my guess for why there was a delay.
Good point, but the crypto market is a 24-7 market, including a market of open access of all individuals and potentially any nation. It has the potential to be more efficient, or in effect, less influenced by paper shorts, like in the stock markets.
Yep, I agree, but we are not there yet. It needs to become more institutionalized to be more efficient is my guess.