The investors which are actively following the latest Bitcoin news are quite optimistic about the current trend of Bitcoin, which saw the most dominant cryptocurrency rising to new highs and coming close to the $4,500 margin. This has been interesting particularly for the investors who ‘caught’ Bitcoin at its apparent ‘bottom’ of $3,500 which was days ago.
Bitcoin is yet to surpass the $4,300 mark on fiat-to-crypto exchanges. However, on crypto-to-crypto trading platforms, it is already trading at around $4,500. The new Bitcoin rally has been fueled by the corrective action on the market – especially when it comes to other tokens.
Speaking of, there is a lot of green action in today’s crypto charts. Aside from Bitcoin’s 8% surge, Ripple has surged by 5%, Ethereum has risen by 6% and Stellar has dominated the top 10 cryptocurrencies surge by topping out around 12% overnight.
Cardano (ADA) has been also solid and rose about 15%, and TRON (TRX) is the clear winner in the overnight action – rising by more than 25% and reaching the $0.015 mark. Practically all of the top 20 altcoins were in the green which is something that investors needed at this point.
As Bitcoin ended the day with a positive short-term movement, analysts were confident to say that this is the first reversal signal on weeks and that from now, we can either expect a solid rise day after day – or a very violent move down.
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“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
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