Bitcoin (BTC) Surges 5% in Minutes, Rallies Past $10,500 in Flash Pump

Volatility is back. In the past hour, Bitcoin (BTC) bulls have returned in full force, pushing the cryptocurrency from $10,100 to $10,600 in a matter of minutes.
As of the time of writing this, the cryptocurrency is up 5%, trading around $10,550. This unexpected move comes to the upside shortly after the mediocre weekly candle close.
This move comes after the Yuan started to fall against the U.S. Dollar to 7.10, implying that there may be some correlation between a devaluation in the Chinese currency and an uptick in the value of BTC.

Bakkt Scorned as Cash-Settled Bitcoin Futures Launch in Singapore
Monday December 09, 2019

It appears that the digital currency community has very much fallen out of love with the Bakkt platform. Prior to its launch, the ICE-backed Bitcoin futures platform was heralded as one of the most...

The post Bakkt Scorned as Cash-Settled Bitcoin Futures Launch in Singapore appeared first on 12bitplay - Bitcoin Play.

RMB protecc pic.twitter.com/HPYB6YWPRd
— The Crypto Dog (@TheCryptoDog) August 26, 2019

Bitcoin & Crypto Market Turn Red Again: BCH, XLM, EOS, TRX Analysis
Thursday December 05, 2019

The total crypto market cap jumped from $188.0B, but it failed to stay above $200.0B. Bitcoin price rally above the $7,500 level was completely reversed. BCH price is somehow holding the key $205 and...

The post Bitcoin & Crypto Market Turn Red Again: BCH, XLM, EOS, TRX Analysis appeared first on 12bitplay - Bitcoin Play.

Altcoins, unfortunately, were hurt by Bitcoin’s spike. This spike brought Bitcoin dominance up by 0.5%, which, in a market worth hundreds of billions, isn’t a move that should be ignored.
Bitcoin Surges Amid Bearish Predictions
Interestingly, nobody predicted this move. In fact, most analysts have been leaning bearish, claiming that the cryptocurrency market is ready to unravel by another 30% to 40% before heading to fresh all-time highs.
As reported by NewsBTC, one analyst was recently eyeing a November 2018-esque drop that brought BTC down by 50%. Such a move seems to have been invalidated by this pump, though.
Featured Image from Shutterstock
The post Bitcoin (BTC) Surges 5% in Minutes, Rallies Past $10,500 in Flash Pump appeared first on NewsBTC.

Why There Remains a Case For a $4,200 Bitcoin (BTC) in 2020
Tuesday December 10, 2019

Over the past few days, Bitcoin (BTC) has shown signs that the bottom is in. For instance, prominent trader Filb Filb noted in a recent newsletter that the cryptocurrency bounced off the “miner’s bottom,”...

The post Why There Remains a Case For a $4,200 Bitcoin (BTC) in 2020 appeared first on 12bitplay - Bitcoin Play.

You may also like...