American Investors Finding BTC Interesting as Halving Approaching

Vandana  |  May 3, 2020

Ever since the market crash of mid-March, there has been huge volatility in the whole crypto market. The price of Bitcoin has gone through many phases during this time period. However, even after such volatility, it could be seen that American investors are highly interested in Bitcoin.

Through data provided by Skew has shown that American crypto exchanges have recovered very quickly as compared to other non-American exchanges. On various American exchanges, there have been huge increases in the number of users and investors and upcoming halving is also considered as one of the reasons for this increased number.

CME bitcoin futures open interest continues to rebound pic.twitter.com/mZBxFRWyDZ

Investors might be buying BTC to short it after halving

The data from Skew has suggested that American investors are moving rapidly towards the crypto market. It has also been assumed that all the investors or miners might be buying Bitcoin in order to short it after halving as the halving event is only a couple of days away. While there might be few investors who must be aiming for a long term investment. This could be said if Bitcoin will follow the trend after the previous halving.

Bitcoin struggling to maintain its position

Since the Black Thursday, the price of Bitcoin has increased rapidly by almost 130% which was more than expected. A lot of people have also predicted that it will fall ever worse than the recent market crash but all these predictions proved to be wrong. Currently, Bitcoin is trading near to $9,000 and struggling to maintain this price point.

The whole crypto community is now eyeing towards the upcoming Bitcoin halving event because it will determine the price of Bitcoin for a longer period from now. People are very much curious about the halving event and the search related to halving is trending on both Google and Twitter.

Articles You May Read.

    Related News