Crypto Strategist: Bitcoin Trends are Hard to Predict

According to HashKey, Matt Mena, a cryptocurrency strategist at 21Shares, stated that Bitcoin's performance is quite difficult to predict due to the randomness of short-term trends. Cryptocurrencies typically react to major factors such as macroeconomic data, central bank policies, and regulatory changes. However, Bitcoin also possesses significant technical characteristics that make the role of chart levels more pronounced in trends. In addition to the aforementioned factors, Bitcoin is traded around the clock across different exchanges worldwide, and there is a significant disparity in liquidity among these exchanges. This, combined with the increasing algorithmic participation and on-chain information, means that price movements may sometimes be driven by technicals, positions, or automated trading strategies rather than being triggered by fundamental news.