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Is the New Bitcoin Bounce For Real?

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Bitcoin Bounce
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After more than a month of trading in the red, Bitcoin (BTC) seems to have finally experienced a new bounce, starting on December 17th. The new surge came just after the weekend of sideways trading, and Bitcoin has seen a relatively sharp surge which has increased its price by $900 within a few short days.

Now, investors are left wondering whether this bounce is the real deal, or is it something else that it’s making BTC rise so unexpectedly.

How did the surge affect BTC and the market?

As mentioned, the spike up started on December 17th, without any warning, and seemingly without a real reason. As usual, the change in Bitcoin’s own behavior has affected the entire market, and most of the top 100 currencies started trading in the green for the first time in over 30 days.

Many of these coins experienced a much larger surge than Bitcoin itself, such as EOS, which has gone up by over 25% at one point. In comparison, the Bitcoin increase remained in single digits. Even so, the current situation is still better than it was in the previous month, with Bitcoin’s price exceeding $4,000. At the time of writing, Bitcoin’s value is at $4,102, with a 0.65% increase in the last 24 hours.

XRP and Tether (USDT) are currently the only two coins within the top 10 cryptos that are trading in the red, with the rest of them experiencing larger increases. This is especially true within Bitcoin’s ecosystem, where Bitcoin Cash (BCH) is seeing a 30.53% surge, and Bitcoin SV (BSV) growing by over 23%.

Is it real?

The question on every investor’s and trader’s mind right now is whether or not the current growth is real and permanent? The crypto community has been speculating about this ever since the surge started on December 17th. Since then, many were claiming that the current situation is nothing but another attempt at market manipulation.

Some analysts have even speculated that the change is a beginning of a “Bart” pattern, which starts with a price surge, followed by sudden spikes which go both up and down and then resulting in a drop which brings the asset’s price close to the starting point. The pattern was named after the iconic character from The Simpsons, Bart Simpson, as it resembles the shape of the character’s head.

Many argue against this theory, stating that the current increase lasts longer than a typical “Bart” pattern, although it is still possible that the pattern will hold.

For now, Bitcoin’s price is higher than it was in weeks, and the same is true for its market cap, which has exceeded $71 billion. The total crypto market cap has grown as well, currently holding at $135.4 billion. Whether or not the recovery will hold still remains to be seen. For now, however, the increase is giving hope to investors and traders around the world, with many of them being optimistic, and claiming that this might be the start of a bull run that will return Bitcoin’s value to heights experienced earlier in this year.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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cryptocurrencies
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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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Bitcoin

4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now

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Bitcoin rally
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After more than a year of declining prices, the crypto market is finally seeing a period of serious recovery — one that has already brought digital currencies to heights not seen in over half a year now.

Only days ago, Bitcoin surged past several major resistance levels and managed to exceed its yearly high of over $8,000. Already, many skeptics are predicting the soon end of the bull run, and the possibility of yet another sharp decline. However, there are signs that suggest otherwise — that this bull run is only getting started, and that it will not end anytime soon.

There are four reasons why this is the case, and they are as follows:

1) Bakkt

There is the long-awaited Bitcoin futures exchange, Bakkt, which recently announced that the July test date for Bitcoin futures is soon to be set. Bakkt’s launch was delayed multiple times already, so the announcement came as quite a surprise. However, it appears that it will happen quite soon, after all.

As soon as its arrival becomes a certainty, Bitcoin will likely skyrocket even further, just like gold did when gold ETF appeared in 2013.

2) Bitcoin completely ignored the hacking of Binance

Binance has been the largest crypto exchange by trading volume for a while now, and as such, many expected that, if anything were to happen to it, Bitcoin…

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Bitcoin

The New Rally Has Arrived: Crypto Market Cap Goes up by $24 Billion Within a Day

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The crypto market’s recovery progresses further, and at a rapid pace, at that. Bitcoin has just surpassed the $8,000 mark, which is the first time its price has been that high since July of last year. In addition, the entire crypto market is making billions within hours.

Bitcoin (BTC) sees another serious surge

In the past 24 hours, the total crypto market cap has gone up by around $24 billion. Meanwhile, BTC price has grown by $1,000 within the same period, as the largest coin traded barely above $7,000 on early Monday. At the time of writing, the coin’s price sits at $8.014.31, with a 14% growth in the last 24 hours. Meanwhile, the BTC market cap has gone up to $141.85 billion, and even the coin’s trading volume surged to over $31 billion.

While many are wondering whether this is a return to the massive heights seen back in 2017 or only a temporary surge which will soon see a correction — no signs of an upcoming decline have been noticed as of yet. In fact, new heights were made and then exceeded multiple times in the past week, with a massive 33% gain during that time. And, with Bitcoin’s dominance at 60%, many are expecting that massive altcoin surges are to be expected as well.

The growth of altcoins can already be seen, as Bitcoin

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