Breaking: Bitcoin (BTC) is Up by 15% in Past 24 Hours

By Kapil Gauhar

That is correct what you read in the title. Bitcoin is past $4,500, and that is the good news for a lot of investors. At the time of writing, data on Berminal shows that BTC is trading at $4,700, a tad which is higher than other markets. This sudden jump of Bitcoin, which effectively came out of nowhere, came after Bitcoin traded in the $4,200 range for the better part of three days.

It isn’t evident what caused this sudden pump in bitcoin price, but considering the volume indicators, a whale likely placed a big sell order. Amazingly, this move pushed Bitcoin dominance back above 51.1%, as this indicator ranged under 50% for quite a lot of time as a result of the early stages of the so-called altseason.

As this move activated flags across the industry, many took it to Twitter. An industry journalist, Joseph Young, commented that Bitcoin is above $4,400 for the first time in four months, which is a level of significance as we have set up in ongoing reports. Alex Kruger clarified that Bitcoin is currently trading above its 200-day moving average, showing a positive sign as clarified by Tom Lee, himself and others.

The fact that Bitcoin (BTC) broke past $4,400 and $4,600 in fast progression and on the back of an outstanding measure of volume has financial specialists, particularly specialized analysts over the moon. Truth be told, incredible BitMEX trader, Angelo, made an arrival to Twitter only for this move, tweeting for the first time in months.