Yesterday, at around 4 p.m IST, Bitcoin surged by more than $1,000 in just one hour, going from $6,900 to $8,032. It is not exactly clear why there was a sudden increase in price. Though we have a few reasons, they are purely speculative and we do not want to get to them unless we have enough evidence. While we’re at it, more than $1.2 Billion worth Bitcoin was traded during that time period.
Ready to have your mind blown? More Bitcoin traded hands in that one hour than *any other time in history*.
BTCUSD volume: ~$550M
XBTUSD volume: ~$635M
That’s $1.2 billion trading volume in one hour! pic.twitter.com/abnthbOq5n
— CryptoRae (@cryptorae) April 12, 2018
After the surge, the price retracted and is trading at around $7,800 which is still a high. Yesterday was one of the biggest days for Bitcoin in a very long time.
Our previous recommendation was to get Bitcoin above $7,800 and we still stand by it. But we did not expect Bitcoin to hit this price before the end of April.
If you had set buy orders at $7,800, set the stop-loss at $7,500. Also, we would not recommend leverage trading at this point because the market is very indecisive. We will publish more updates as we have them.
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