NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Bitcoin (BTC) Heads to $5,000 as Price Suddenly Explodes

Published 04/02/2019, 06:10 AM
Updated 04/02/2019, 07:21 AM
© Reuters.   Bitcoin (BTC) Heads to $5,000 as Price Suddenly Explodes
BTC/USD
-

On Tuesday morning, Bitcoin (BTC) once again proved its unpredictability, shooting for the $5,000 level in the most dramatic daily climb for the past three months. Within minutes, BTC pumped from lows around $4,100 to as high as $4,849.46. The rally remained mystifying to traders, with the most probable explanation being a sudden pump.

The price climb happens on relatively high volumes above the equivalent of $12 billion in 24 hours. This time, the price climb is different in comparison to weekend rallies that happened on low volumes.

This immediately increased the BTC price dominance to above 52% as some altcoins retreated. But this time, the sudden price rally is not caused by...

This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.