Bitcoin, the world’s favorite cryptocurrency with the largest market capitalization at around $83.3 Billion USD, had its price shoot up 13.7% over the past 24 hours per Coin Market Cap, currently priced at $4727 USD.
With Bitcoin’s price action reaching a new high over the past four months, the crypto space has gained momentum as Bitcoin bulls have broken past three key resistance levels at $4,200, $4,420, and $4,567.
Although Bitcoin’s price jump is positive news for many, some believe that there are big players or whales making moves to manipulate the market, even as an April Fools joke.
At the time of print, many cryptocurrencies are also performing well with the price of Litecoin up 15.47% over the past 24 hours at $70.03, EOS at $4.65, up 11.22%, and Cardano at $.0.079246, which is up 13.27%.
It’s likely that a large $100 million dollar Bitcoin order was the reason why Bitcoin and the crypto market shot up in price, with an algorithmic order spread across the crypto exchanges, Coinbase, BitStamp, and Kraken.
Author: Adam Sarwar