In this bear market, there was a spectacular pump in the price of bitcoin which went from $6855(as of 10:35 UTC) to over $8000 in a half an hour hitting a high of $8011 on coinbase. Yes, that is a rise of over $1000 in a matter of just half an hour.
Image from Tradingview
This seems bullish and also bizarre that it has risen by almost 17% in less than one hour. Although there have to be some more sessions like this to be positive that this is a bull run.
Other cryptos like Ethereum, EOS, Ripple, Iota, and Cardano also had massive gains
Armin Van Bitcoin Tweeted:
https://twitter.com/ArminVanBitcoin/status/984417211476578305
So what happened, did Soros get his account verified?(JK).
Recently George Soros, Rockefeller Venture, and other billionaires were reported of getting involved in cryptocurrency markets. So it could possibly be these institutional investors playing with the price.
It seems that there has been a liquidation in the shorting also has had a role in this.
https://twitter.com/benvh/status/984329111068925952?s=19
Another possibility is that the Americans might be investing as their annual tax refund season is coming to an end.
Or this may after all just be a bear trap.
WhalePanda Tweeted:
Nice move by #Bitcoin. Got to love that bear trap. pic.twitter.com/9SrHfJuFvO
— WhalePanda (@WhalePanda) April 12, 2018
Richard Heart Tweeted:
In #Bitcoin, Usually after such a strong impulse up, there will be carry on effects. Next resistance $8700. Pray for no Bart Simpson retraces.
— Richard Heart (no giveaways) (@RichardHeartWin) April 12, 2018
Are we finally on the brink of ending the bear market and the beginning of the next bull run?
Comment down below what you think.
Disclaimer: This is only meant to be informational and not financial advice, Blockmanity or the writer is not responsible for any investment decision made by the reader and each individual is advised to do their own research before investing.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
