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In March, when Bitcoin [BTC[] was trading around $4000, the associated volatility and sentiments wouldn’t have been able to fathom the rise that Bitcoin is experiencing now. It recorded yet another yearly high at $8940 following the bullish break on Sunday, 27th May 2019.

Bitcoin futures contract opened with a vast gap second time during this month. This is due to the fact this Bitcoin trading on spot Exchanges runs continuously for 365 days 24/7. However, the futures market is closed during the weekend. During this weekend, the Futures market opened with a rise of $520 or 6.39% as the market which closed at $8140 on CME, opened at $8660 on Monday.
<figure id="attachment_32419" class="wp-caption alignnone" style="max-width: 1024px;"><figcaption class="wp-caption-text">BTC Futures/USD 1-Day Chart on CME (TradingView)</figcaption></figure>
Now, the <strong>Bitcoin [BTC] futures traders must decide if they want to buy the gap or fill it.</strong> A ‘gap’ is a sudden price movement when little no trading occurs. The market opens higher or lower based on fundamental or technical analysis. While Gaps are common in the Forex market, Bitcoin [BTC] certainly stands out. Moreover, this gap can be a ‘continuation gap,’ which might continue the bull run or an ‘exhaustion gap.’

From a fundamental standpoint, the anticipated Facebook’s GlobalCoin release next year might have added the much-required creditability to the crypto-space. Facebook’s Globalcoin could attract more than 2 billion customers to the world of crypto.

Also Read: Facebook’s ‘Globalcoin’ Will Credentialize Bitcoin as a Store of Value: Mike Novogratz

Nevertheless, the parabolic rise has been unprecedented since the beginning of the month. According to Peter Brandt, a chart analyst who first called the bottom on Bitcoin suggested that the price reached the end of the parabola. He tweeted,
<blockquote>This is the FOMO phase of the advance. Once the majority of sold-out crypto bulls capitulate and chase this a more sizable correction will likely occur, stopping out the same bulls, who are chasing this advance.</blockquote>
<figure id="attachment_32420" class="wp-caption alignnone" style="max-width: 1024px;"><img class="size-large wp-image-32420" src="https://www.cryptoknowmics.com/crypto/wp-content/uploads/2019/05/btc-pter.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://cdn.coingape.com/wp-content/uploads/2019/05/27090236/btc-pter-1024x415.png 1024w, https://cdn.coingape.com/wp-content/uploads/2019/05/27090236/btc-pter-300x122.png 300w, https://cdn.coingape.com/wp-content/uploads/2019/05/27090236/btc-pter-768x312.png 768w, https://www.cryptoknowmics.com/crypto/wp-content/uploads/2019/05/btc-pter.png 1250w" alt="Bitcoin analysis" width="1024" height="415" /><figcaption class="wp-caption-text">BTC/USD 1-Day chart analysis (Source)</figcaption></figure>
B.Biddles who has been extremely bullish since $5000, who also predicted the parabolic rise correctly, tweeted about the market sentiments of most traders.
<blockquote>“It [BTC] has to correct at some point.” No, it doesn’t. Will it? Maybe. But the way statistics works, it doesn’t *have* to. Flip a coin 100x. You can get heads every time. Your feelings otherwise are bias.</blockquote>
It doesn’t point at any bullish or bearish analysis but highlights a statistical and psychological fact about trading. The traders with a bearish penchant this year would have suffered huge losses hoping for a correction, while the bulls have flourished till now. Even now, Bitcoin [BTC] could further extend the rise to new all-time highs as well. The fear in bears is significantly tested as Bitcoin looks to break above $10000.

<em><strong>Do you think mass adoption and institutional investment is the reason behind the rise? Or Bitcoin is still rising on speculation only? Please share your views with us.
</strong></em>

</div>
<a href="https://coingape.com/bitcoin-cme-futures-open-gap-analyst-predicts-fomo/" target="_blank" rel="noopener">Go to Source</a>
Author: Nivesh Rustgi

Bitcoin [BTC] CME Futures Open at $500 ‘Gap’; Analyst Predicts FOMO but Bulls Intact

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Bitcoin [BTC] CME Futures Open at $500 ‘Gap’; Analyst Predicts FOMO but Bulls Intact

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