According to analysts, historically the summer months are marked with reduced activity and volatility. The Bitcoin market ceased to respond greatly to macroeconomic uncertainty and news regarding the escalation of the conflict between Israel and Iran.
“Large market participants go on vacations, the volumes of trading are falling. The uncertainty with trade negotiations between the United States and other countries create the perfect background for bear mood among traders, ”the report says.
Over the next few weeks, bitcoin quotes will be within the narrow price range. As the first cryptocurrency becomes a more mature and stable asset, the expectations of investors are changing. Now they do not count on a multiple growth in a short time, analysts say.
Some long -term holders reduce positions in BTC to diversify the portfolio due to investments in the promotion, gold and private placement. Bitcoin will continue to follow the stock indices and the overall attitude of investors to risky assets, also striving to fix the profit, summarized the QCP Capital.
Earlier, the founder of the Coatue Management Head Fund, Philippe Laffont, at the Coinbase State of Crypto summit in New York, stated that Bitcoin has become increasingly interesting for large companies, since in recent years its volatility has decreased.
Source: Bits
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