Significant Reasons Behind Bitcoin’s Dramatic Surge

2018-7-19 23:56

With the recent events of past seven days, it is safe to safe that the big bull is reaffirming its position in the cryptocurrency market as the leader of the pack. On the 12th of June 2018, Bitcoin was still struggling to maintain the $6,000 mark with a highly discouraging $70 addition.

Surprisingly, the coin made a good climb to sit at $6,250 on that same day ; the highest price increase since the 10th of June. In line with the surge, Bitcoin chart trend lines indicated a 90% possibility that Bitcoin was soon to hit a bullish trend.
This is fast becoming a reality as the coin is pumping up in price volume, and in past 24hrs highly impressive gains have been recorded.

The technical analysis on Tuesday indicated that Bitcoin had breached resistance levels of $6,800, $7,000 and $7,300, which can be credited to the dramatic 40 minute rise on Tuesday, when Bitcoin saw a spike in trading volume, giving it a distinctive $600 price increase. Enough momentum to carry the coin from $6,791.52 to $7,386,32 respectively.

At the moment of writing, the price of Bitcoin is  at $7395.75 not very far apart from yesterday. However, the dramatic upsurge has to be credited to the efflux of three major events over the past week.

THE JAPANESE YEN INVESTORS

The Japanese Yen Investors are unarguably one of the major factors behind the swift cryptocurrency boost as they now account for over 51% of Bitcoin’s trading volume, according to data from cryptocompare.

TETRAS CAPITAL

Following that, the detailed “Bearish thesis” on Ethereum published by New York based Hedge Fund Tetras Capital, an obvious attempt investment firms apply to short other coins and pave way for the assets most promising to them, which in this case happened to be Bitcoin definitely assisted in a price pump, to give Bitcoin and alongside other top 100 altcoin a smooth rally,  except Ethereum of course whose price stumbled in BTC terms from 0.072 to 0.0684 24hrs after Tetras blog post was published.

The post Significant Reasons Behind Bitcoin’s Dramatic Surge appeared first on ZyCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 96013.35 (+0.35%)
Объем 24H $41.112b
Изменеия 24h: -1.44 %, 7d: -7.04 %
Cегодня L: $95217.68 - H: $97458.26
Капитализация $1901.037b Rank 1
Цена в час новости $ 7337.35 (1208.56%)

bitcoin safe significant behind dramatic surge reasons

Источник: zycrypto.com

bitcoin safe → Результатов: 48


Think carefully before buying Bitcoin – and don’t buy the ‘safe haven’ claims

Lee Smales, University of Western Australia The sharp rise and subsequent fall in Bitcoin’s value places it among the greatest market bubbles in history. It has outpaced the 17th-century tulip mania, the South Sea bubble of 1720, and the more recent Japanese asset price and dot-com bubbles. The rapid price rise garnered attention from an […]

2018-7-13 23:17


Crypto Wallet Ledger Introduces Ledger Live for Desktop

In a bid to appeal to more cryptocurrency investors, hardware wallet provider Ledger announced its new offering — Ledger Live. CEO Eric Larcheveque announced the new software in a blog post, stating that the company’s mission is to: “Ensure that everyone who owns crypto assets can keep them safe, using the most advanced security technology […] Crypto Wallet Ledger Introduces Ledger Live for Desktop was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-11 16:14


Фото:

Swiss Stock Exchange Operator Plans to Launch Crypto Exchange

SIX, the firm that operates and owns the Swiss stock exchange, has announced plans to launch a fully regulated digital cryptocurrency exchange. The firm says it plans to launch "the first market infrastructure in the world” which will “offer a fully integrated end-to-end trading" while providing a safe environment where digital assets can be issued and existing securities and non-bankable assets can be tokenized.

2018-7-7 23:11


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

What determines Bitcoin’s price?

Bitcoin’s price is influenced by a mix of factors, including supply and demand dynamics, mining costs, regulatory developments, market sentiment and more.