Today, bitcoin prices have returned $4000, 3 days rose more than 25%, a record high of two weeks. This shows that even after prices fell sharply, the currency is still not diminished the popularity of encryption.
As of press time, bitcoin price of $4100. Since bitcoin in the past four weeks decline reached 50%, seems to have the extremely oversold rebound, so also be long in coming.
As the world’s top ranked encryption currency, bitcoin rebound once again brought good luck to the money market more encryption. Most crypto currencies have emerged rising momentum, the overall market capitalization has exceeded $130 billion. Ethernet square, star coins and coin Wright have varying degrees of increase, Bitcoin and Cash in the past two days the best day, rose more than 30%.
The Fed rate hike is the incentive?
At 3 a.m. Beijing time, the Fed announced the rate hike of 25 basis points. After this announcement, severe financial market reaction, the Dow, NASDAQ and S & P 500 index, there are different degrees of decline.
As a result of market turmoil makes many people think that is the best time to turn the bitcoin. There is speculation that the current round of bitcoin prices may be because investors sought safe result.
In addition, Babbitt mentioned in yesterday’s report, the International Monetary Fund (IMF) economist, senior risk trader Mark Dow announced to stop bitcoin short.
Dow has reached the highest point in the prediction of bitcoin bitcoin fell last year, and began to sell. Now, he announced positions also increased investment and confidence.
Encryption currency analysis platform TheTIE.io co-founder Joshua Frank provides data support for the trader’s attitude.
According to the company’s collection of data, “at the end of 66% bitcoin twitter are positive emotion.”
The following table shows the frequency of twitter keywords most common words with bitcoin related tweets, and those with positive, neutral or negative number of tweets.
Prudent investment is still the focus
However, although bitcoin prices rebounded, the market sentiment is also positive bias, but still some analysts say investors should be cautious.
Encryption currency derivatives platform Amulet general manager Marouane Garcon said:
The best time to buy is not present, the volatility is still too large.
From the Jon CryptoPatterns encryption currency consulting platform Pearlstone:
Although after 15 this month low, bitcoin released rising signal. But the 25% increase is not sufficient to prove that bitcoin prices will begin to rise sharply.
Mati Greenspan analyst eToro pointed out that the market trading platform:
The distance we were a month ago is still far away, don’t even say a year ago. But compared to two years ago, we have made great progress. In addition, with the price to measure the growth index is not reliable.
No matter at any stage of the market, cautious investment is the most important principle.