Bitcoin Storms Above $8,000

Bitcoin is back above $8,000. BTC increased by more than 17% in a day to trade above $8,000. On Thursday the 12th BTC made a sudden move to overcome the $8,000 resistance level and is currently holding above that figure. Many bearish traders were forced to abandon their shorts and buy back into the market.

It is not clear what caused the sudden move, but it could be speculated that the intensifying political uncertainty, with the USA and Russia at loggerheads, has contributed to the price increase of Bitcoin.

But it is not just BTC which has increased rapidly. In fact, with the exception of Tether, every top 100 cryptocurrency has made a significant increase. Most notably within the major cryptocurrencies, Ethereum is up more than 10%, Ripple up more than 18%, Litecoin more than 7%, Cardano more than 20%, OMG more than 20%, IOTA more than also made big moves within the same timeframe.

It is all green numbers for the crypto market in general:

bitcoin above 8000 CoinMarketCap
Cryptocurrency Market Capitalizations CoinMarketCap 13/04/2018

 

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.

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