It’s Halloween today. It’s also the day when anonymous cypherpunk, Satoshi Nakamoto presented the idea of Bitcoin to the world, 11 years ago. The whitepaper released since then has become a model for censorship-resistant finance. Probably, that’s the reason why strong-headed BTC bulls don’t want the digital asset’s price to ‘dip’. Not at least today.
Aggressive Bears Meet Big Bad Bulls
As reported by Bitcoinist, a few hours ago, in the given market conditions bitcoin is hogging a little more than 30% of the daily crypto trading volume. Since President Xi’s blockchain-friendly comments 6 days ago, BTC bulls seemed to have come out with renewed confidence to push the market north. This is pretty much evident from the uber sporadic nearly 40% price jump in which bitcoin rallied from $7200 to $10,500.
BTC/USD Daily TradingView Chart
Noted crypto trader Josh Rager succinctly expressed this concrete bullish behavior in one of his latest tweets today, just when bitcoin suddenly printed a green candle on the charts.
“Aggressive selling being held up by the heavier hand was showing the bigger player didn’t want price to drop from $9000 At least short term Nice bounce from $BTC to tap $9400,” he said.
Aggressive selling being held up by the heavier hand was showing the bigger player didn’t want price to drop from $9000
At least short term
— Josh Rager 📈 (@Josh_Rager) October 31, 2019
Since the epic pump following the Chinese head of state’s speech, bitcoin price has had its share of selloffs as bears reared their head again to suppress the rally.