This was an interesting week because the price of Bitcoin moved up in a number of steps. Other coins stayed more or less the same. Why this sudden rise? The market watchers believed it was due to a short squeeze. A short squeeze is a term used in financial markets that defines a situation in which a heavily invested asset moves higher, forcing short sellers to cover their losses, creating a sort of snowball effect, pushing the price up and up.
We see a lot of so called “BTC price prediction gurus” in the make: People doing predictions and if they are right afterwards, they will have a credit for future predictions.
One things seems to be sure: BTC will stay for a while and while it is there it builds a better fundament. Liquidity in the market is a concern and that makes the market a gambling area. Can we say this is the casino world for Billionaires?