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Bitcoin Keeps Playing Dead During Weekdays. Will BTC Price Increase over the Weekend?

  • Alex Morris
    📰 News

    ⚖️While the BTC price is showing unprecedented stability during the week, it could eventually surpass the $4,200 mark this weekend ☝️


Bitcoin Keeps Playing Dead During Weekdays. Will BTC Price Increase over the Weekend?
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Crypto trader Luke Martin took to Twitter to share his take on Bitcoin’s unprecedented stability that is displayed throughout the week. The price of the flagship currency hasn’t moved more than $60.

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Crypto whales are busy  

Martin points out that Bitcoin ‘keeps playing dead’ during the week with significant price moves being recorded only on the weekend.


One Twitter user jokingly suggested that crypto whales are struggling so hard during the crypto winter that they had to find Monday-through-Friday jobs.

Calm before the storm?  

As reported earlier by U.Today, Bitcoin has finally surpassed the psychologically important mark of $4,000 on Saturday, March 16, after struggling to do so for weeks. This is not the first time when the king of crypto reached this milestone – on Sunday, Feb. 24, Bitcoin rallied to $4,150. However, it was shortly followed by a sharp market reversal that made the BTC price plunge nearly 5 percent.

BTC

At press time, the BTC price is at $4,053, still failing to break above yet another important resistance level of $4,200. However, this weekend could very likely become a game-changer.

Bitcoin

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

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