Su Zhu, CEO of Three Arrows Capital, believes that cryptocurrency traders will continue to do business in derivatives exchanges. You can expect to see more “Bart Simpson” patterns on the Bitcoin price chart.
In a video from Luke Martin’s podcast about coins released on Twitter on June 4th, Zhu said that Bart’s pattern, named after her resemblance to the Simpsons’ hair, was “definitely” here to stay..
Zhu responded to Bitcoin’s recent volatility (BTC) on June 1, when the price rose 10% to $ 10,380stayed in the $ 10,000 range for several hours, then suddenly dropped back to $ 9,500.
The “Bart Simpson” pattern on BTC
According to the CEO, These price movements on Bitcoin are unique in the cryptocurrency markets due to the volume and interest of the futures exchanges.
“There is a kind of reward for being able to liquidate this electricity […] When people see an opportunity, they can use illiquidity bags or bring the price down to a certain point. “
Zhu does not believe that this step is the result of market manipulation.. “I see it as the fact that the vast majority of Bitcoin are kept away from these exchanges […] and it is not traded, so a very small amount of the bitcoin that is out there drives the price, “said Zhu and concluded,” If it were not there, I think as a reward there would be a lot less barts. “