Bitmex Quarterly Futures and Recent Bitcoin (BTC) Value Rallies Have Clear Correlations

After weeks of debate amongst experts and analysts, Bitcoin has finally been able to jump over the $4,000 threshold and is presently trading at $4,028.87, at the time of writing. However, the token itself has not seen any particular buying pressure since reaching this price level, and there’s no further certainty if the former resistance level will become a support level. However, there is an interesting connection with Bitmex, because the start of the quarterly futures of Bitmex seem to coincide with the jumps that Bitcoin has seen in its price, suggesting that there could be more of rhyme or reason to changing prices, instead of it being a completely random movement.

There are many traders that seek out information from the technical analysis of the token to figure out why the price movements took place in the market. However, this connection suggests that there are other events that could be having some kind of influence. One analyst in the crypto industry, Luke Martin, used Twitter to explain how the BTC price pumps have matched the new quarterly futures contracts on Bitmex.

The Twitter discussion started off by bringing attention to March 15th, which is when Bitmex Sept Futures began their trading. He noted that he had previously noted the dates of June Futures beginning on December 17th, which is when Bitcoin rose by 8%. He added that, though interesting, this change is not necessarily indicative of BTC price pumps, but it is a good way to predict the greater likelihood of volume and volatility.

In the fourth post, he commented how the latest Bitmex quarterlies had just begun trading, curiously wondering if the previous impact would be mirrored at this point as well.

Just after, Martin added that the BTC price moved quickly after the Bitmex quarterlies begun their trading in an “identical pattern” to the chances before.

It is worth noting that there is still no connection concretely established to price moves in the crypto market coinciding with other events or if it has anything to do with technical reasons. Another analyst in the industry posted to Twitter to point how growing strength in the fundaments of the industry and the token could be another reason for the growth.

As the next week begins in the crypto industry, it will hopefully become clearer to the industry experts of the role that various catalysts play in the rise of Bitcoin. Perhaps with more growth and change, the $4,000 price will become the new level of support.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,468FansLike
2,795FollowersFollow
4,232FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Second Half of 3-Yr Bull Market: Ether’s Crazy Run has 90% of its Supply in Profit

This past weekend, the price of Ether went past $400 to as high as about $420, a level last seen in July 2018. This...

Teenage Mastermind Behind the Twitter Hack Owns $3.39 Million in Bitcoin (300 BTC); Bail Set At $725k

The 17-year old Twitter-hack mastermind holds over $3 million in BTC value with only $725,000 set for bail. In a bizarre moment last month, Twitter...

Bitcoin (BTC) Jumped to $100,000 on Binance Futures

There have been several predictions that see Bitcoin hitting a six-digit figure. On Sunday, this became a reality, very briefly, thanks to an algorithm. Bitcoin...

Flash Crash Caused Serious Network Congestion for ETH, ETC, And ERC 20 Tokens on Coinbase

On August 1, the Ethereum's blockchain faced a spike in network transaction fees, causing a backlog in transfers across several exchanges. Coinbase and Binance,...

Bitcoin’s Wild Weekend Reminiscent of 2017 Bull Rally, ‘Higher Highs Ahead in 2020'

This past weekend, bitcoin had a rough time as the largest cryptocurrency made its way past $12,000 to $12,112 in trading just after midnight...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today