Bitcoin, Crypto currency, Blockchain

Bitcoin rises further: when turns of the course and initiates the correction?

a74373812711e177ad9ce4526fc36520 - Bitcoin rises further: when turns of the course and initiates the correction?

Bitcoin rises further: when’s the correction?

Home News Bitcoin rises further: when’s the correction?

Of
Marcel Knobloch –
09.07.2019

The price of Bitcoin moved in the last few days, sideways, with no clear Trend. Since yesterday, BTC has risen sharply and marched directly to the USD 13,000-mark. According to Bloomberg, that could be the end of the flag pole.

Within the last 30 days, Bitcoin has risen over 50% in the price and is hit on the way the year all-time high of 26.05.2019 of almost 11.950 USD. The rally is due according to Bloomberg, and some industry experts especially to a growing confidence of large companies in the market, and in the block chain technology. In addition, an analysis by Bloomberg has shown that Bitcoin has exceeded the upper-Vera-band limit. The indicator identifies Up – and Abwärstrends and shows that there may be a further eruption is imminent (freely translated):

Bitcoin has followed since mid-February, a similar Trend and has exceeded since then, at least once in a month, a year high. The crypto currency has exceeded the beginning of February, for the first time this year, your band upper limit and, shortly thereafter, a new high for the year achieved.

If we are to believe the analysis by Bloomberg, then Bitcoin currently knows only one direction and this predicts a new all-time high of more than 14,000 USD. However, more larger companies, a rise, according to Adward Moya, chief market strategist at Oanda Corp., in the market. The positive mood on the market and the continuing rise in the price (freely translated) provides:

Bitcoin seems to be a large outbreak to prepare, because of the institutional interest in Blockchain technology shows no signs of slowing down. The gushing profits this Time due to solid institutional interest, and even though the security continues to be a large risk, it seems Bitcoin is to have many of its initial growing pains to overcome.

At the crypto market as well as in other areas of the financial industry is no guarantee for the ongoing positive trend of the last few hours and days. Nevertheless, it would be welcomed by the Bitcoin Community, of course, if the rates will continue to rise.

Crypto-whales move more than half a billion dollars

On Monday, some of the “heavy” Bitcoin Wallets BTC, worth more than half a billion dollars moving, after Bitcoin broke the $ 12,000 mark again. The affected wallets are all of unknown origin and seem to have no crypto to exchange. Two of the Transfers have, however, moved 9.792 BTC to a value of 116 million USD Wallets of exchanges. This could be used to realize a sale.

While the Tether has printed an additional 100 million USDT “”.

Tether prints often new USDT, if the price of Bitcoin will rise. This is according to Jesse Powell, CEO of Kraken, a sign that traders USD pumps in the market. This phenomenon is already observed for a long time and according to critics, the industry, the manipulation and sharp price fluctuations of Bitcoin and the crypto-space (freely translated):

I don’t understand exactly what is happening with Tether. But I can tell you that in the past, as they have seen a rise in the supply of Tether, to observe an increase in the supply of US dollars in the case of Kraken and other exchanges would report this also.

So I think that what you see in the Tether is only a very transparent representation of what is happening on the level of the banking system with all the stock exchanges. If a new Tether is printed, flow 99% of tonnes US dollars in stock exchanges and it is not only represented as a Tether in the Blockchain.

Feauted Image: Wit Olszweski | Shutterstock

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