Bitcoin’s Highest Ever Recovery in about 3-Months with a Surge in Price & Volume

bitcoin

Bitcoin’s Highest Ever Recovery in about 3-Months with a Surge in Price & Volume

Since yesterday, Bitcoin has been registering a surge in price as it jumps over 8 percent trading at $4,350. Meanwhile, the trading volume goes above $7 billion and interest among buyers also takes a spike.

Bitcoin in Action

Despite the red market and Bitcoin being just around $4k, the market finally saw some relief yesterday that has extended to today as well. From $3,720, Bitcoin went $4,350 with a surge of over 12 percent. In the past three months, this has been the best day for the Bitcoin in terms of price surge and traded volume.

At the time of writing, Bitcoin has been trading at $4,349 with 24-hours gains of 8.06 percent.

 

Bitcoin price chart, Source: Coinmarketcap

With a market cap of $73.4 billion, the leading cryptocurrency is managing the daily trading volume of approximately $7.3 billion.

Crypto enthusiast and client portfolio manager, Crypto Quantamental shared interesting data regarding Bitcoin trading volume in his Tweet:

This surge in Bitcoin prices came at the time the traditional stock market also registered gains as eToro senior analyst, Mati Greenspan tweets about the correlation between the two,

 

Well, the interest among Bitcoin buyers is certainly spiking evident from the fact that there is a surge in Bitcoin searches as per google trend data,

Bitcoin interest in past 13 months, Source: Google Trends

Additionally, crypto trader, The Crypto Dog shared another interesting facet signalling buyers’ interest among institutions,

 

He further shared,

“Most people just want to know when it’s safe to buy #Bitcoin for the long run. The answer is now. We will likely cruise at low levels ($2-5k) for awhile. Don’t try to time it, “average in slowly during this time, throw a bit of your paycheck each month and hold.”

Another popular crypto investor and trader, Crypto Don Alt says, this is just a “bearish retest of previous consolidation,”

 

What are your views on Bitcoin’s positive price movement?

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Anjali Tyagi 321 Articles

Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.

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