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Massive Bitcoin Plunge Nothing More Than Traders Being Traders, OKCoin Exec Says

Published 06/02/2020, 04:40 PM
Updated 06/02/2020, 06:40 PM
Massive Bitcoin Plunge Nothing More Than Traders Being Traders, OKCoin Exec Says

Bitcoin (BTC) dove more than $1,000 on some exchanges on June 2, although the event seems to be the result of simple trading activity, according to OKCoin's head of market development Matthew Ficke.

"Price movement like we saw yesterday typically attracts short-term traders trying to position for a larger break higher," Ficke said of the day prior, when Bitcoin surged notably past $10,000.

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