Bitcoin Reaches upto $8000 in just half an hour

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:

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.

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:

Richard Heart Tweeted:

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.

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