Thomas Lee, head of research at Fundstrat Global Advisors and one of the most influential crypto analysts named the probable cause for the recent weakness in Bitcoin. According to Lee, the expiration of cryptocurrency linked futures affected the coin which consequently dropped 20% last week.
Since the launch of CME futures on CBOE, 6 contract expirations have occurred, and the last one – on June 13 – took place in the period of all cryptocurrencies’ particular instability. That day Bitcoin was worth $300 less – it fell from $6,600 to $6,300. read more