BTC$ 7959.81950863
ETH$ 170.276126778
The Game Is Included For Bitcoin, Ethereum, Ripple And Litecoin
2019-04-08 06:52:04
Investors, traders and speculators are jumping back into bitcoin and cryptocurrency markets, sending prices up.

How can we explain the rally?

Several factors. One of them is the renewed interest in big money. "The recent surge in bitcoin was caused by a large purchase order-rumored to be around $ 100 million – that sent BTC straight through technical resistance ($4,235), which has been in place since early December 2018,” says Nicholas Cowley of the DailyFX team."The lack of volatility in Bitcoin over the past few weeks has kept prices under control, and low volume markets are always more susceptible to sudden movements than more liquid markets.”

Bensonoff Kirill, technology consultant, agrees. "The surge was obviously fueled by a very large order, tens of millions of dollars," says Benson. “This is another sign that institutional players are entering the market.”

Then there is the prospect of lowering interest rates, which again includes risk for all types of speculative investment.

And there is “market Technicals."Market volumes have increased 3-4 times, which exacerbates the sharp rally," says Cowley. "In addition to a clean breakout of resistance, this move also easily broke through the 200-day moving average of around $4,650, allowing the rally to continue.”

How far will the rally go? Will bitcoin ever reach the $20,000 mark again? It all depends on whether regulators approve the financial tools that allow you to ensure the wide participation of investors into the cryptocurrency markets such as electronic trading funds (ETFs), according to Bensonoff. “In order for bitcoin to reach $20,000 in 2019, we're going to need a major catalyst, and I believe the only one with that kind of power will be ETF approval,” says Bensonoff. "Without that, we're looking at a better $10,000 scenario.”

While it is unclear which of the two scenarios will come true, one thing is clear: volatility will continue in the cryptocurrency markets, creating new winners and losers.


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