Bitcoin (BTC) dove more than $1,000 on some exchanges on June 2, although the event seems to be the result of simple trading activity, according to OKCoin’s head of market development Matthew Ficke. “Price movement like we saw yesterday typically attracts short-term traders trying to position for a larger break higher,” Ficke said of the day prior, when Bitcoin surged notably past $10,000. Bitcoin pumped and then dumped Bitcoin’s price surged up past $10,400 from $9,450 on June 1, only to fall back down to $9,275 on the following day.…
Day: June 2, 2020
Uptrend in Mainstream Crypto Interest Started Last Fall, MIT Startups Says
Cryptocurrency has seen a rise in mainstream attention starting last fall — before COVID-19 measures took off, according Floating Point Group, or FPG, an algorithmic trading technology startup conceived at MIT. “An increasing portion of our inbound prospects are established industry participants coming from FX, equities and derivatives markets,” FPG co-founder Kevin March told Cointelegraph on May 28 after confirming the presence of increased mainstream crypto trading interest. Cryptocurrency opportunity knocking Abiding with U.S. regulation, FPG offers institutional players a number of tools, APIs and other tech for trade automation. March…