Three Arrows Capital CEO: ‘Bart Simpson’ Patterns are Here to Stay
Su Zhu, the CEO of Three Arrows Capital, feels that as long as crypto brokers keep on working with subordinates trades, you can hope to see more "Bart Simpson" designs in the Bitcoin value graph.
In a video from Luke Martin's Coinist Podcast presented on Twitter on June 4, Zhu said the Bart patterns —named after their likeness to the Simpsons character's hair —are "unquestionably" digging in for the long haul.
Zhu was reacting to the latest Bitcoin (BTC) instability on June 1, in which the value shot up 10% to $10,380, stayed in the $10k territory for a few hours, and afterward dropped back out of nowhere to the $9,500s.
As per the CEO, these developments in Bitcoin cost are remarkable to the digital currency showcases because of the volume and enthusiasm on subordinates trades.
"There's kind of an abundance put out to have the option to sell this stream whenever individuals see a chance, they can come and exploit pockets of illiquidity or an approach to get the cost to move in a specific way."
Zhu doesn't think this development is the consequence of controlling the market. "I consider it to be the reality by far most of Bitcoin being held off these trades [...] and it's not being exchanged around, so an extremely limited quantity of the Bitcoin that are out there are moving the value," Zhu said. "On the off chance that that were not there, as an abundance, I think there would be far less Barts."