Bitcoin for a few hours break above 4200 dollars. Bullrun started?

Today, the bulls made their first attempt to storm the level of 4200 dollars. In a few hours the price of Bitcoin could break the key level, reaching a local maximum at the point 4275 dollars. Unfortunately, to gain a foothold in the new area and failed, so cryptocurrency fell below. Tonight, Bitcoin is trading at $ 4094.

What ended pump

At the time of reaching a peak capitalization of the asset has risen up to 74,48 billion dollars, and trading volumes have reached RS 11.30 billion. A sudden increase appears in the statistics of the increase in the price of Bitcoin could grow by 4.08 percent inside afternoon trade session.

However, the exchange FCoin reported historic high trading volumes on the pair EUR/USDT — 4.93 billion dollars. On BitMEX numbers are also quite impressive, here is the daily volumes of transactions has reached 1,688 billion. FCoin also recorded 841 million dollars in volume on a pair of ETH/BTC.

Note that from the point of view of fundamental analysis of the causes of short-term Pampa Bitcoin yet. The only more or less notable news was the deferral of the ETF on Bitcoin from Bitwise. Representatives of the SEC has decided to delay the final verdict until may of this year.

Overcoming the barrier of 4200 dollars for the trading pair BTC/USD is one of the key conditions to start a new wave of growth of the cryptocurrency. According to the trader CryptoBirb, the next few days should be crucial for the asset. Previously, he identified three possible versions of events that have to be performed after the test line 4200 dollars.

Source: CoinMarketCap

In the long term, Bitcoin has a huge potential — bitcoin forecast growth up to at least 55 thousand dollars after halving. However, the Creator of Ethereum , Vitalik Buterin has doubts about the current model of emissions of the main cryptocurrency.

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