The bitcoin price briefly crossed the $5,000 in several major regions on April 2, officially surpassing the $4,800 mark in global average price. The somewhat expected increase in the price of bitcoin left many investors, including industry executives, bewildered about the factors that led the dominant cryptocurrency to surge.

1st Factor: A Purely Technical Move Throughout the past week, CCN reported that the $4,200 resistance level is crucial for the near-term price movement of bitcoin and once the level is breached, there exists a possibility it leads to a significant upside movement above $4,500. As soon as an $80 million

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