What was the main reason bullrun Bitcoin?

It’s official: Bitcoin is really in a phase of bullish growth. Schedule cryptocurrencies may be slightly different from the previous uptrend, and on the way buyers will wait for the correction and plum — type current. However, all this is not so important, because now is the first cryptocurrency is on the way to a new historical maximum.

I doubt BTC will reach 20 thousand dollars? And in vain, because for this purpose it has several reasons. Even for beginners it is clear that now the demand for BTC is seriously outweighed by the proposal, so the uptrend can earn good money.

The bulls are always in fashion

Tonight, Bitcoin was trading at 10 964 dollars. For the past day the price of the cryptocurrency fell by almost 19 percent due to a sharp plum pretty, who even brought some of them down. However, for a very short period of time.

Rapid rise in digital asset partly comes from breaking through the psychologically important resistance level of 10 thousand dollars. After the Bitcoin fixed above this line, began a chain reaction — more and more investors willing to jump on the “leaving train”.

Economist Alex Krueger recently reasoned in Twitter about the start bullrun.

The reason is simple: aggressive buyers crossed the spread and exceeded the number of both passive and active sellers. Given the recent price movement of Bitcoin can be assumed that within the market there was a group of large buyers. Not yet seen any other reason for this rapid rise in price of BTC.

And indeed it is. Sometimes to inflate the market enough to catch up with the hype and give the asset a push up.

Can’t name any specific trigger for yesterday’s rally. Only a huge number of buyers. In cryptosphere already, there have been many other significant developments. For example, new solutions from Fidelity/Bakkt/Ameritrade/E-Trade/LedgerX, the creation of Libra and other factors.

It seems that by the beginning of 2019, the stock market turned in a compressed spring. The bears were able to “drive” the price of Bitcoin so low that a sharp rebound was just a matter of time. As you can see, oversold asset is still able to please its investors a good profit.

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