Bitcoin markets experienced little change on 2nd May, providing a mild response to Craig Wright’s claim that he is in fact the digital currency’s inventor. The Economist , the BBC and GQ all released stories on the subject that day, following months of speculation surrounding whether Wright created bitcoin. After Wright’s assertions, skeptical cries arose from many corners of the bitcoin community, including several experts who spoke with CoinDesk at the Consensus 2016 event.
Regardless of which experts support Wright’s claim, the market’s reaction has been largely uncertain. Bitcoin prices dropped slightly early on 2nd May, falling from a high of $452.60 at 07:00 UTC on 2nd May to a low of $439.89 by 09:00 UTC, according to CoinDesk USD Bitcoin Price Index (BPI) data.
For the remainder of the day, the digital currency fluctuated largely between $440 and 445, an extraordinarily tight range for the normally volatile bitcoin.
In addition to enjoying stable prices, bitcoin saw little change in long-short ratios in the BTC/USD market, Petar Zivkovski, director of operations at full-service bitcoin trading platform Whale Club , told CoinDesk.
"If anything, we’ve noticed an uptick in long positions as value traders see yesterday’s panic dump from $450 to $440 as an opportunity to ‘buy the dip.’ Most traders are without a doubt betting on more upside," he said. Aftermath
The currency’s price remained largely unchanged over the next few days.
Bitcoin prices opened at $444.51 on 3rd May and proceeded to reach a high of $450.89 at 18:00 UTC, lingering just north of $450 for the remainder of the session, BPI figures reveal.
The digital currency’s price dipped slightly in early trade on 4th May, falling to an inter-day low of $445.44 at 11:00 UTC and proceeding to fluctuate close to $445. At the time of reporting, bitcoin was trading at around $446.These […]
