Many market partners expect that the start of futures trading will lead to a sharp correction as it may be possible to take short positions. In fact, the price has increased by more than 20% and has exceeded $ 17,000. Over the last 24 hours, the price has traded in a narrow range between $ 16,350 and $ 17,500.
Looking at the numbers, we see that market interest in futures is very limited. Trading activity was very limited at the opening of the market on Monday. At the start of the day, the average trading volume was about 300, but fell quickly with the break-up of the futures contract, which climbed to $ 18,850. After that, trading activity declined continuously with 50 trades per hour.
The numbers show that investors are not keen to sell Pitcuene suggesting that term gains are expected. Currently, the Pitcuen is subject to a collection period of approximately $ 16,000 to $ 17,000. In terms of price outlook, we remain bullish and expect the price to rise rapidly as the flow of funds continues to move assets. It makes sense to $ 20,000 by the end of the year.