Today, Europeans woke up to a big green candle on the Bitcoin (BTC) charts. Naturally, everyone wants to know why.
Searching For Reasons In All The Wrong Places
Everyone has their reasons for Bitcoin’s morning pump, of course.
Oanda Corp. told Bloomberg that the price movement is another example of Bitcoin’s immaturity, stating:
Bitcoin is still primarily retail-led. It’s still a relatively unsophisticated area of trading.
Some take a slightly different opinion and really don’t think the price movement is a big deal. According to Kenetic Capital managing partner Jehan Chu, today is nothing to write home about. Chu told the outlet:
The Bitcoin market and crypto market in general continues to be small relative to the rest of the markets — and emotional. It’s still very much subject to waves of enthusiasm. I don’t think today is anything special.
Bitspark CEO George Harrap meanwhile told the privately held financial, software, data, and media company that he is going to pause what he’s doing and see how…