Bitcoin

The world of cryptocurrency day trading has undergone a significant transformation between 2013 and 2017, with traders like Peter To claiming massive earnings.
However, as Bitcoin’s volatility wanes and the industry matures, the arbitrage for traders like him seems to have faded. To says that Bitcoin is interesting for those hunting market’s arbitrage opportunities.
Bitcoin is not as volatile or as driven as it wasPeter To, former Crypto trader. FTX incident shakes Crypto market 
The aftermath of events like the collapse of FTX exchange are also responsible for this changing landscape. Last year’s incident caused Bitcoin’s value to plummet below $16,000 which sent shockwaves through the industry.It significantly impacting traders’ returns.
In aw, Craig Murray, a crypto day trader reflected on the uncertainty that led him to exit the crypto trading scene during the <a href="https://news.todayq.com/googles-2-billion-investment-in-ai-firm-could-lead-to-ftxs-bankruptcy-recovery/" rel="noopener noreferrer nofollow">FTX debacle</a>. 
Why would I have my money in this space when there’s a chance that one day it could just all go away? Upcoming spot-Bitcoin ETFs rescue the Crypto market 
BlackRock Inc.’s <a href="https://news.todayq.com/bitcoin-etf-application-by-blackrock-accepted-by-sec-positive-steps-towards-crypto-market/" rel="noopener noreferrer nofollow">application</a> for a Bitcoin exchange-traded fund (ETF) and a judge’s decision to allow the conversion of a Bitcoin trust into an ETF had set the market it in momentum. Only their <a href="https://news.todayq.com/sec-delays-multiple-bitcoin-etfs-including-blackrocks-amid-looming-us-government-shutdown/" rel="noopener noreferrer nofollow">approval</a> will now be the next booster event for the sector.
However, the market appears to have shifted. Retail investors have retreated. And its not just the crypto sector, their share in US equity market volumes has also dropped significantly.
<a href="https://news.todayq.com/data-bitcoin-exchange-volumes-show-164-growth-in-2023/" rel="noopener noreferrer nofollow">Increased weekday trading volumes</a> are some signs that suggest a slight resurgence in retail crypto trading. But, the industry has undoubtedly lost some of its former appeal.
Tim van den Berg, a former trader who incurred losses, shared his skepticism.
Crypto is so manipulated now. It started out as a thing that would beat the banking system, but now it’s just for the rich to move a lot of money
Peter To adds that in the past, traders would take advantage of late-night price dips to make profits, but now, the market is more directional. This reinforces the sentiment laid out by Tim van den Berg. To said that it is a different game altogether. Source: Bloomberg 
Other people have moved on to more stable investments while some still engage in crypto trading. Newcomers are also advised to avoid high-risk strategies. Recently, Bloomberg senior Macro strategist, Mike McGlone suggested <a href="https://news.todayq.com/senior-bloomberg-analyst-predicts-a-positive-future-amid-historic-low-volatility/" rel="noopener noreferrer nofollow">potential of a big Bitcoin price pump</a> given that volatility is at all-time lows.
The era of growth and once-in-a-lifetime trading opportunities in the crypto market may be giving way to a more mature and stable future. Traders have realised it’s not just about the potential for profits but also about understanding the changing dynamics of a rapidly evolving market.
© Todayq News

Traders complain about stabilizing Crypto market as high profit making opportunities fade

Todayq News

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