Abnormal growth of Bitcoin - why is the cryptocurrency growing in the course and what to expect from it?

April began for the cryptocurrency market surprisingly well and for many the leap of bitcoin and altcoins came as a real surprise. The main cryptocurrency in one day went up by more than 20% and now you can observe the rapid growth of other coins. Is the cryptozyme over and the market will continue to grow? An anomalous event will be discussed in this article and try to find out what to expect from cryptocurrencies in the near future.  

Why does bitcoin grow in value?

April 2 became a triumphant day for Bitcoin and its fellows, which many skeptics did not even hope for. The main coin of the cryptoindustry literally in a few hours grew by 20% and pulled altcoins up with it, which allowed the market to rise in price by $ 20 billion in its capitalization per day. If on April 1, bitcoin started by barely reaching $ 4100, then by the end of April 2, the price of the cryptocurrency was as close as possible to the $ 4800 mark - on the Bitfinex exchange, at some point, the rate jumped to $ 5000! The coin has taken a good pace and is not giving up yet - this gives rise to hope that the period of stagnation for the cue ball is over and the cryptocurrency will be able, at least partially, to regain its former positions.

The mood on the cryptocurrency market has really changed and it seems that the bears have finally disappeared from the race, giving way to a bullish trend. Such a change in market conditions could lead to the onset of cryptoversity, which everyone is waiting for. In the lingering calm, bitcoin and altcoins spent 15 months and many have long put an end to crypto-works, but the coins, once again, showed their potential.

What do experts say about the growth of Bitcoin?

According to many traders and analysts, the figure in 4500 $ for Bitcoin was a turning point. The cue ball easily took this position and the experts are optimistic about it - many argue that there are great chances that the main cryptocurrency will not stop at what has been achieved and will reach the 6000 $ for 1 BTC. This, in turn, will favorably affect the altcoins, who have already responded to the cue ball jump.

The reason for the growth of the coin is the entry into the market of new investors with big money, which put an end to the “bearish” trend. Whether they have enough money and enthusiasm to shake the market to new heights is questionable, but such rapid growth begins to revive interest in cryptocurrencies. Coins have once again demonstrated that they can show good volatility not only during a fall, but also during growth.

For justice, we note that some opinions that a thaw would come for cryptocurrencies with the onset of spring came before. According to the Bitcoin cost chart, it can be traced that the gradual growth began long before 2 of April - it is quite possible that investors were testing the market and now, finally, the long-awaited tug came, which looks like a classic pump.

According to NewsBTC analyst Ayash Jindal, bitcoin will continue to grow. It is now very important for the coin to overcome the marks of $ 5000 and $ 5200 - if this happens, the rate will easily jump to $ 6000. The analyst believes that even if the cue ball slows down for a while, it will not drop in price below $ 4400, as it has good support at this mark.

According to The Wall Street Journal, whales came from Asia, because it was actively traded on local exchanges. Another authoritative publication called Reuters writes that the race provoked the purchase of 20 thousand bitcoins through Coinbase, Kraken and Bitstamp, which in terms of dollars is about 82 $ million. Since a large purchase on different exchanges was carried out at one time, experts argue That made the transaction robot - an automated program for trade.

The head of the cryptocurrency exchange Binans Changpeng Zhao expressed surprise at the good increase in the cost of Bitcoin, which he left a post on Twitter. The head of the cryptocurrency trading platform said he was at a loss and didn’t know why digital gold was going up.

What to expect from the cryptocurrency market?

Whether the unexpected rise in the cryptocurrency market will become a trend - we will understand very soon, but even such a jump suggests the prospects of digital coins. If, after a terrible fall and long-term uncertainty, investors are active, and they enter the market with big money, then this is a positive sign for Bitcoin and for Altcoins. After all, in order to stir up the multibillion-dollar market so well it took solid injections. And all this happens at the moment when many crypto enthusiasts have long lost faith in the bright future of cryptocurrencies.

If you analyze the charts, then you can really see that the breakthrough that we are now seeing was quite natural and cryptocurrencies gradually began to rise in price with the arrival of 2019. Just what is Litecoin worth, which has risen in price by 140% over the past three months - if in January the coin was quoted at $ 30 apiece, now its price is $ 72.

Now we can only state that the major players have returned to the market, because there were no big news or events in the crypto industry, and the activity of small investors could not be spurred on. Whales, on the other hand, methodically buy a crypt at a low cost, and thereby push its course upwards.