Bitcoin is back: Pump and Dump?
The space of the cryptocurrency has seen an inexplicable progress since yesterday. Analysts everywhere have been unable to decipher the reasons behind the Bitcoin price surge that saw many altcoins awakening from their dream to an appreciable level.
Today, as the Bitcoin rally continues, cryptos whales are pumping a huge amount of money into space. As at the time of writing this article, researchers are implying that the ‘Whales’ are pumping Bitcoin worth several million dollars into space.
While the reasons behind this may not be clear, Binance has benefited to the fullest with the transfer of Bitcoin from this whale.
According to CoinNess, no less than 100 thousand BTC have been moved to an address of Binance 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s. CoinNess, conta contacted Binance and told him it was an internal transfer.
Meanwhile, as the bear market seems to be over, experts in cryptocurrencies are beginning to rejoice with the latest trend initiated by BTC.
Due to the favorable market situation, the venture capitalist, Pompliano, inferred that “Bitcoin is back”.
According to his assessment, Bitcoin took off 20% during the last night and reached the $ 5000 mark for the first time since November 2018. It also indicates that investors from long-term horizons have the capacity and ‘stomach’ for volatility so that in the short term they do not care and hence they expect that after a time of maturation, they will bet on the asset.
Bitcoin has seen a big increase in the last 24 hours. It is currently trading at $ 4715.78 with 13.46% in the last 24 hours and its market dominance has soared to 51%, as well as its capitalization (and the ecosystem in general).
Bitcoin currently has more than $ 83 trillion in capitalization and the market is over $ 163 trillion dollars. Its market volume in the last 24 hours has grown to $ 17 trillion.
There is no doubt that BTC is returning in style to its 2017 status and may soon touch the $ 5100 limit before jumping to $ 6000 as some have predicted in their analyzes.
A few days ago, ScienceGuy489 with Jason A. Wiliamns, a cryptocurrency expert and co-founder and partner of Morgan Creek Digital, said the price of Bitcoin could reach $ 28 thousand on April 11, while Ethereum’s price could touch $ 2000 for the 24th of this month.
The analyst joined his bold claim that the Litecoin price could also reach $ 650 this April or higher than 2019. As the dates approach, all hands are on the deck to see how the prediction is fulfilled.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.