The latest cryptocurrency news show that the prominent analyst Max Keiser triggered a new rally for the most dominant cryptocurrency out there, Bitcoin. However, the crypto concerns still remain for US regulators following the visit to Switzerland to meet with the country’s financial regulators.
We can finally see BTC in a bullish mood. As data from CoinMarketCap reveals, there has been a major change from sideways trading over the weekend – and Bitcoin is gaining hundreds of dollars in a matter of minutes this Monday.
All of this is good for the market, especially because BTC lingered either side of $10,000 for the past three days. Now, BTC/USD is suddenly up and has shot up to more than $10,600 on some exchanges before it decided to settle at about $10,350. As Max Keiser triggered a new rally, the latest action brought Bitcoin back to its position at last week’s open.
The monthly returns for investors, on the other hand, have also come almost full circle and stand at roughly 2.7%. The regular Bitcoin bull and RT host Max Keiser triggered a new run by tweeting about Bitcoin’s price potential:
“Bitcoin is a coiled spring about to explode higher.”
Previously, Keiser had claimed multiple times that Bitcoin was due to grow in line with the increasing network performance. He highlighted the mining metrics as a hint that markets were about to expand.
Others were attempting to explain why the BTC/USD had begun gaining and losing hundreds of dollars within minutes at irregular intervals. A theory revolved around margin trading and the increasingly popular tool offered by major exchanges including Binance, and most importantly, BitMEX.
The Twitter account known as Squeeze also noted that a deluge of margin calls produces the form of price action on markets with has baffled some. It also went viral in the altcoin news about a potential rally – mainly because Max Keiser triggered BTC to rise even more.
“The effect of cascading margin calls and stop loss triggers causing $300 slippage between XBT perpetual swaps on Bitmex vs Spot BTC,” one tweet posted this Monday said.
Meanwhile, the coming altcoin news show that Bitcoin’s recent shoot failed to produce copycat moves for most assets.
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