Within the last week, bitcoin has seen strong upward price movement, rising by 19 percent. However, much of that increase was within the last hour, with a massive amount of purchasing activity pushing the price of BTC from $4,190 to $5,000 on Coinbase Pro, a 19 percent jump.
Within the last hour, several large green candles have pushed the price of bitcoin from $4,190 to $5,000. The source of the large purchases is unknown, though it is likely from one, or several, whales—spurring the rest of the market into action.
Source: Coinbase Pro
That said, some have raised concerns about price manipulation:
6% in under 15 minutes. No illegal market manipulation here, no sir.
— Bitfinex’ed (@Bitfinexed) April 2, 2019
Meanwhile, in combination with strong upward price movement, there are a growing number of people within Crypto Twitter that believe the indicators suggest the bear market could be coming to an end.
— The Crypto Dog? (@TheCryptoDog) April 1, 2019
However, with something as volatile, new, and unpredictable as bitcoin, it’s likely impossible to know whether the bullish trend will continue—but many are optimistic.
Update: Prices changed to reflect more recent price movement.
Bitcoin, currently ranked #1 by market cap, is up 13.06% over the past 24 hours. BTC has a market cap of $82.25B with a 24 hour volume of $12.45B.
Chart by CryptoCompare
Bitcoin is up 13.06% over the past 24 hours.
Filed Under: Bitcoin,