Although the leading cryptocurrency Bitcoin (BTC) fell below $ 6,000 with a fall on March 29, it did not take long to recover. BTC, which started to rise again as of March 30, has also exceeded $ 6,000 and as of the writing of this article, it finds buyers at $ 6,322.
Where Will The Rise Of Bitcoin Price End?
While this rise of Bitcoin promises some investors, leading cryptocurrency analysts emphasize that this could be a trap and call people to be careful. Crypto analyst Crypto Michael said in a statement on Twitter that CME is a price gap created by futures Bitcoin contracts.
This is the main reason for the rise, according to the analyst, and this price gap must be closed first. Underlining that Bitcoin will rise from $ 6,400 to $ 6,500 to fill this price gap, the analyst hinted that the decline might come after this.
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The difference between the CME futures price in question and the spot market price of Bitcoin has previously been seen to cause price increases or decreases. This means that the analyst may be right in his guess.
