How does the short interest affect the price of AXSM?

1 answers

• Dec 16, 2021 · 3 years ago
  Short interest plays a crucial role in the price dynamics of AXSM in the digital currency market. At BYDFi, we have observed that high short interest in AXSM can lead to increased price volatility and potential downward pressure. This is because short sellers aim to profit from a decline in price, and their selling activity can create a bearish sentiment among traders. However, it's important to note that short interest alone is not the sole determinant of AXSM's price. Other factors such as market demand, overall market conditions, and regulatory developments can also influence the price of AXSM. Therefore, it is advisable for traders to consider a comprehensive analysis of these factors before making investment decisions in AXSM or any other digital currency.
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