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The new year has been relatively good for the price of bitcoin after a spectacular collapse of the cryptocurrency bubble in 2018. It’s up notably since the middle of December and traded around the psychological level of $4,000... so is this a sign that the crypto market is about to recover?
Of course, it depends on who you ask, but one analyst discovered a pattern which might point to a bottom next month.
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CCN pointed out that this past Monday marked exactly one year since the cryptocurrency bubble popped, leading to a tremendous crash in the bitcoin price throughout 2018.
Data - CoinMarketCap - Market - Capitalization - Cryptocurrencies
Data from CoinMarketCap indicates that the market capitalization of all cryptocurrencies hit $835.7 billion on Jan. 7, 2018, making the cryptocurrency bubble market temporarily worth more than Facebook and Twitter combined. A year later, the crypto market cap is only $136.3 billion — even though the number of cryptocurrencies tracked by CoinMarketCap has increased significantly over the last year.
So exactly why did the bitcoin price surge suddenly? Citing a tweet from Whale Alert, a price tracker for bitcoin, a Forbes contributor traced the sudden movement to the sale of about 2,500 bitcoin for nearly $10 million on the Bitstamp exchange. The huge sale shifted the cryptocurrency’s daily volume over $5 billion. What makes it particularly interesting is that the bitcoin price is so far holding on to the key support level of over $3,500.
Thing - Cryptocurrency - Price - News - Japan
One thing which could be helping support the cryptocurrency bubble and bitcoin price is the news that Japan’s financial regulator is reportedly considering approving...
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