The bitcoin exchange rate went to $5000, the experts did not expect such a turn
Within hours on Tuesday morning, bitcoins have soared by more than 15%: from $4200 to $4850, while enjoying the growth without limits after separation from important resistance near $4000.
The price of BTC showed the dynamics already quite forgotten past of cryptocurrency. Growth was also supported altcoins that were in the green zone, although their dynamics were not as impressive. The total capitalization of the stock market has soared by $15 billion.
However, it’s more like a surge in the value of the asset, rather than a sustained rally. On the approach to $5000 (the highs from November), the momentum fizzled.
The current situation is similar to what happened March 30, when bitcoin showed a similar surge of growth. Should be wary to refer to an increase, based on the triggering of an avalanche of buy orders, without any fundamental or news factors.
The only “suspect” still looks the increase in the number of transactions in a network Tether to record levels. During today’s jump in the Bitcoin daily trading volume of the Tether increased by $4.4 billion, which is an absolute record. At the same time, it should be understood that Tether is a method of growth, not its cause.
Another important obstacle to bitcoin exchange rate looks like the 200-day average. In financial markets, this line is often considered an important feature. Overcoming it could be a turning point, marking the return of trend growth. Last year this mark proved its worth as a reliable indicator. A dip below it in may of last year marked the beginning of a long sale in the next month and a half.
Again attention news about the launch of BTC miners. Despite the loss of this area in recent months, Canaan Creative, like Bitmain, introduced a new generation of chips A10 with hasraton 31 TH/s. The OEMs clearly are not hurrying to bury the direction of your business, keeping the faith in a strengthening market.
As for the controllers, everything is still negative. It became known that the SEC was postponed for 90 days consideration of the application for the launch of a Bitcoin ETF from VanEck, and Bitwise. However, such news no longer lead to a deterioration in market sentiment, and the positive statements of regulators will be a pleasant surprise, which nobody expects.
It should be noted that sentiment enthusiasts have ceased to spoil not only regulators, but also hacker attacks on the crypto currency exchange. New victims of the thefts have become DragonEx. In CoinBene also have suspicions on, as the exchange suddenly went to technical work. Bithumb suffered an insider attack in which it lost $19 million Suffer from major players who have the means to protect.