In the last few days, the Bitcoin surpassed the USD 8000 mark in a very short time. Previously, he stepped on the spot for several weeks. We have compiled 3 reasons that could have triggered the last outbreak above the 8k mark.
American crypto buyers return: US buyers are hesitant to return and may wait for the end of the US tax season to buy again. US buyers are one of the largest markets that can give new impetus to the crypto market. At present (April 14, 2018 16:20), the exchange rate is at USD 7954 and thus slightly below the previous day’s value.
Japan is going crazy: For some reason the positive bitcoin mood was led by Japan before it rose in the early morning hours of Western trade. At the same time, the share of Japanese yen trades fell from 59% of all trades to only 42% when the dollar market started. As regulatory fears in Japan are slowly subsiding, interest in the crypto currency is probably also growing again.
Automatic trading by bots: Sudden and dramatic movements are sometimes the result of algorithms and existing orders that are triggered. Even today, a few days after the rapid rise, it is not clear what triggered the sharp rise. However, if many buy orders are triggered by bots at the same time, this can also trigger a buying wave and thus a price increase.