by: Tam Ging Wien
All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into account their own financial situation. All investments carry risk. The risk of investing in cryptocurrencies and blockchain related startups is extremely high and you may potentially loose all your investment capital. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.
This article is mean to help beginners quickly get their hands on small amount of cryptocurrency so that they can appreciate the concepts better through action.
It is NOT meant to be investment advice or sharing of trading strategy, but rather an early starting place to better...
Another volatile week in the world of Bitcoin. Price fluctuated between $7,222.4 and $9,195.5. That represents nearly a $2,000 range, where price tested the resolve of both the bulls and the bears. While price has recovered from it's lows and currently trades around $8,900 range, this week's price action has left a lot of people confused. Let's unpack what happened in the week to see if we can make sense of the volatility.
1. Pre G20 Summit Meeting
As mentioned in our reflections last week the G20 summit meeting could act as a catalyst to be a pivot point for Bitcoin. At the start of the week before the event price tested the $7k lows and headed into the event with weakness. This clearly looked like the market was selling the rumor before the event and hoping for some positive news to buy the news. It was probably in Bitcoin's best interest to be weak during the summit and it appeared that helped it's case.
2. Post G20 Summit Meeting
There was not a lot of news which came...
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