Arthur Hayes, CEO of BitMEX has confirmed the liquidation of Short positions of Bitcoin Futures to the value of 230 million US dollars. This happened apparently within 15 minutes. He also said that the price of Bitcoin would fall after a brief Rally, and made further predictions of the future.
Bitcoin, Futures, ETF and the price of Bitcoin — the possible relationships of these three important factors in the Ecosystem we discussed recently in detail. Also, that at the time of the sudden pumping of over 10 percent and the rising Bitcoin price expired just futures contracts for the leading crypto-currency. In a video post on CNBC Arthur Hayes confirmed that BitMex have resolved within 15 minutes Short positions of Bitcoin Futures with a total value of 230 million US dollars. Here you can establish quite a connection to the rise in the Bitcoin price, but must also keep in mind that the sum, compared with the current 24-hour trading volume, bitcoin, which is 3.4 billion dollars, can’t keep up.
Nevertheless, BitMEX is the only Futures provider. In a Tweet from the 20. July, the CME Group confirmed a rapid rise of the popular futures contracts, which can be used to bet on the Price trend:
Bitcoin futures average daily volume in Q2 grew 93% over the previous quarter, while open interest surpassed the 2,400 contracts, a 58% increase. Learn more about trading #Bitcoin futures: https://t.co/adjWVWXBPQ pic.twitter.com/UQWC3nGGrI
— CMEGroup (@CMEGroup) July 20, 2018
As you can see from the graph, has increased the trading volume of the Futures in the second quarter of 2018, to 93 percent compared to the previous quarter.
Arthur Hayes comments on the Bitcoin price
In addition, video from CNBC Arthur Hayes expressed his assessment of the performance of the largest crypto currency by market capitalization. At first he think it is likely that the rate could rise to about $ 10,000. After that, it is, however, initially downhill again. So he predicted that “the worst is not over yet” — he was expecting a premature case of the Bitcoin price of about 5000 US dollars. If this Resistance was, however, successfully tested, could take the Bitcoin course. He had even predicted a rise of up to 50,000 US dollars. Here is the entire Video.
At the time of writing the price of Bitcoin is currently 7456 dollars. So he could rise within the last 7 days to 18.4 percent. In the course of the are 23: 19 the percent. The entire market capitalization currently stands at just under 128 billion dollars.