In the past month, the bitcoin price has climbed 23 percent against the U.S. dollar in major markets, recording nearly a 70 percent year-to-date (YTD) gain. The bitcoin price has almost fully recovered to November 2018 levels as it surged past $6,300 with strong volume and momentum.
Since March, the real volume of bitcoin calculated using the methodology of Bitwise Asset Management has surged by three-fold from $270 million to over $700 million, indicating an increase in interest towards the dominant cryptocurrency.
Last week, global markets analyst Alex Krüger noted that if bitcoin surpasses $6,400, the most traded price of 2018, it would confirm the start to a new bull market.
Reference: https://www.ccn.com/how-shorts-trigger-massive-bitcoin-price-rally
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