With a peak at $9,460 on Binance, a FOMO wave seems to have taken hold of the public and institutions but also whales who are probably responsible for this Bitcoin price pump!
From the level of $7,700 to $9,460, we are approaching the $2,000 increase in almost a single move.
Which therefore casts doubt on a possible manipulation of this sudden resurgence of interest in Bitcoin BTC, a few weeks before Bitcoin’s halving.
However, a good thermometer of the situation is a crypto exchange like Binance or Coinbase and Kraken.
The surge in Bitcoin purchases and trading has effectively disrupted and surprised the big Bitcoin exchanges on the market, some of which have crashed like Kraken or Coinbase!
A FOMO mode therefore as CZ Binance describes it in a message on Twitter, following this surprising pump of the BTC price which took 20%!
Binance reports practically $16 billion in trading volume on its platform, figures that break records.
Damn son, $15.9 BILLION a couple hours later.
Still going strong. FOMO mode now. Took a while, lol.
Slowly but surely. https://t.co/Fe1PPX0kim pic.twitter.com/gsgfDyVsbQ
— CZ Binance ??? (@cz_binance) April 30, 2020
The world leader in crypto exchanges has therefore handled the transaction volume which surprised the crypto market.
Kraken and Coinbase were unable to absorb the number of users wanting to buy Bitcoin and crashed.
Bitcoin trading with crypto trading bots and Bitcoin robots is getting an increasingly important part in Bitcoin BTC trading volumes.
One of the leaders in automated crypto trading, Kryll, indicates a trading volume in 24h of almost 2 million dollars against a usual volume around $600,000!
If we can suspect the speculative whales who intend to raise the price of Bitcoin in order to attract new buyers, this fomo wave is clearly supported by the current crisis of Coronavirus Covid-19 which has brought many people confined in their homes who started BTC trading.
In the United States, the $1,200 bonus check was also used to buy Bitcoin, as noted by the Coinbase CEO, with a significant increase in deposits of $1,200 on this Bitcoin exchange.
Finally, Arthur Hayes, CEO of Bitmex, sees the intervention and statements of the US central bank, the FED, as an explanation for the surprising rise in Bitcoin.
Fed Chairman Jerome Powell said in particular that they will not run out of money for their measures to support the economy and businesses in difficulty today.
This is what happens with #bitcoin teams up with stonks. Thank you Chairman Powell. You keep hope alive! pic.twitter.com/2NqncI8E8c
— Arthur Hayes (@CryptoHayes) April 30, 2020
The CEO of Bitmex predicts a price of Bitcoin at 20,000 dollars at the end of 2020.
A bullish rally for the Bitcoin BTC price therefore started, in anticipation of the BTC halving in May 2020.
A bullish movement that could very well stop here or go higher towards the 10,000 dollars by the date of this halving around May 12.
A BTC price which will have to correct sooner or later, after weeks going up and this last surprise pump supported by this fomo mode as CZ Binance says.
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