Nexo Co-creation: The drop in Bitcoin prices in January is a typical phenomenon of "sell news" in the trading market
Antoni Trenchev, co-founder of Nexo, stated that the drop in Bitcoin prices in January is a typical "buy on rumors, sell on news" phenomenon in the trading market. This phenomenon describes the behavior of market participants buying assets before an important announcement is about to be made and then quickly selling them after the announcement to make a profit. In the Bitcoin market, this phenomenon was reflected in the price drop in January.
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