Massive Bitcoin Price Rally Awaits Shorts Trigger Beyond Fresh 2019 High

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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Author: Neo Anderson

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