Crypto market is on the rise: Bitcoin and Ethereum to lead rally
Home News crypto market on the rise: Bitcoin and Ethereum lead rally
Marcus Misiak –
The cryptocurrency market is currently in the upswing and can consistently capture the green. A possible Initiator for the (sudden) rally could be the purchase of 661 BTC by an unknown Investor in the cryptocurrency exchange Bitfinex.
How about Reddit reported was triggered yesterday, a single buy order of 661 Bitcoin of the crypto-exchange Bitfinex in less than 30 minutes a price increase of 2.7% for Bitcoin.
The Trade was more than $ 2 million in value, has been spotted on Reddit. The large buy order helped to initiate a broader crypto-rally. At the time of publication the Bitcoin price has risen in the last 24 hours is still 1.7% to 3.894 USD. The Ethereum rate rose by more than 11% and surpassing the market capitalization of the platform above the XRP to around a Million USD.
The price of the ETH fell last month to a Low of around 83 dollars. This, combined with a XRP rally, led XRP 2. Burst in the Ranking of the market capitalization occupied and Ethereum outdated. Ethereum now has.his throne as the second-largest crypto currency on the market back Robert after the price has risen in the past 30 days by 80 percent, from 83 to US $ 150
The Rest of the crypto market looks green. Litecoin and EOS increased in the meantime by more than 5%. Tron increased by 4%, XRP and Bitcoin, Cash by 3%.
Technical indicators show upward signs
It’s 2019, and it seems that the prospects for Bitcoin and the crypto currency market are overall positive. According to a recent Bloomberg’s Vildana Hajric and Reade Pickert article published a number of technical indicators/signals according to a multi-month lull, the first upward character.
According to the two reporters of the GTI Vera Convergence Divergence indicator suggests that BTC has entered its “longest desire to buy in six months”, presumably due to the fact that the Cryptocurrency is not like in the last few weeks dramatically. The indicator predicts that Bitcoin, when the pressure is on the buyer’s side continues in the next two weeks, could continue to rise, and from its low for the year stands at about 3,150 USD continue to recover.
Mike McGlone, a Bloomberg Intelligence Analyst, who was previously skeptical of crypto, noted that this “Relief rally” could be a by-product of the end of the tax season in 2018. He explained, however, that this boom could end soon and the market could again be a “longer-term bear market”.