What is going on with bitcoin ? there are many fluctuations in short span of time within a limit of $500? but bitcoin is unable to reach a new landmark and trailing around $4000. what's the reason for these temporary price fluctuations?
I think people are shifting exchanges to ETH because it is going to happen the Hard Fork event. The traders are trying to take advantage of this event to push ETH up and start liquidating it after they receive their reward in this event. I guess that after receiving the reward, traders will sell all of the ETH they hold at a higher price than what they have spent.
But ETH is also bringing the price of bitcoin up because of their fork. Definitely, speculators or traders are always taking advantage to squeeze more profit specially we are still in the bearish zone. As for the volatility, it's part of it's ecosystem and as much as we hate it, volatility sometime works on our side, that is if we know how to trade and take advantage of them.