Home Analysis Bitcoin Bitcoin Analysis: Price surges by $1,000 in just one hour

Bitcoin Analysis: Price surges by $1,000 in just one hour

April 13, 2018 11:18
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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.

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.

Make sure you follow us in our Telegram group for faster updates.

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