Analysis Breaking

Bitcoin (BTC) 8000+. Where is it rushing?

Bitcoin breaks all forecasts and technical analysis charts. Analyzers no longer find suitable patterns for drawing their graphs. To what level will the Corn grow at the current rally?

Joke of humor not for fools

Recall that the rally began on April 2, immediately after April Fool’s Day, and was originally explained by the joking statement of the SEC head Jay Clayton about accepting applications for ETFs from Bitwise Asset Management and VanEck. But when the Corn continued to grow, this version disappeared. And a new one did not appear.

Now, too, there is no good explanation for the rally. Already swept predictions that Bitcoin is in the danger zone and is about to collapse. There were also opposite assessments – that Bitcoin grows along a parabolic curve. This observation is not devoid of common sense. And if we compare the charts of the current rally and the rally of the end of 2017 – the message is clear.

Analysts believe that the rapid growth of Bitcoin is the result of the whale’s activity, i.e. several investors “with deep pockets.” So it was in early April, when the jump in rates was the result of several large requests for Bitcoin purchase on BitMEX.

The balanced opinion is that several factors have now come together.

Whales, of course. Although it is not clear why the whales want to buy the Corn right now?

Plus, enhanced opportunities fiat to сrypto and back transfers. Every week successful startups are appeared that give such opportunities to millions of people. Of the latter, the alliance of the Abra startup and Plaid fintech company, that connects “thousands of US banks to crypto”.

Plus, of course, smooth eliminating of recent scandals. Especially impressive smart work at Binance. CZ proved to be a master of anti-crisis PR. After hacking of 7K BTC, he instantly extinguished a panic, promising to make up for losses and immediately fix vulnerabilities. Yesterday Binance fixed the situation completely.

The prolonged scandal with Bitfinex and Tether is also smoothly extinguished. The exchange successfully fixed the budget problems, after it launched IEO of its LEO token with a cap of $ 1 billion, also at the expense of the institutionalists. Remember that Bitfinex and Tether are managed by one company, iFinex Inc. And the USDT works on the bitcoin blockchain.

If we sum up everything, then why would the Corn not grow by 50% or more? However, having learned from bitter experience, cryptoinvestors are almost without exception waiting for a collapse. Panic rumors are constantly circulating through telegram chats and crypto aggregators websites. But maybe everything will be fine?