Bitcoin broke above $ 4100. Bullrun started?

On the market today is extremely a lot of buyers, thanks to them Bitcoin was even able to break through the resistance area $ 4,000 and jump higher. The price of cryptocurrency has made a successful attempt of a breakthrough after a relatively long period of lack of volatility. At the moment Bitcoin is trading at 4124 dollars.

According to some analysts, a prerequisite to growth of the asset was a record trading volume of BTC futures this week. In addition, most traders noted a change in the auction in favour of the bulls. Perhaps we are witnessing the end of a long bearish trend in the history of Bitcoin.

Short-term rollback or a full-fledged growth?

Recently on Twitter CME Group has reported an unusually high activity in the trading of futures on Bitcoin.

Pump prices of Bitcoin coincided with record trading volumes on the futures, the amount of transactions as of February 19, equals 18 000 contracts.

Well-known analyst Peter Brandt believes that the recent price movements of the cryptocurrency very much like the end of the bear market of 2014. In other words, now is the time to buy BTC.

If the period December 2017-February 2019 — the analogy of the previous downtrend, whether you actively invest in Bitcoin? I Yes.

Although the abundance of positive news can be considered a very good factor for the start of bullrun, trader under the name DonAlt considers all movements of Bitcoin below $ 6,000 “noise.”

I often hear that the rise of Bitcoin above $ 4400 supposedly the beginning bullrun. The combination of growing local minima does not guarantee the end of the downtrend. I expect a sideways movement of prices to break through $ 6000. Sell on resistance, buy on support.

Recall, February is traditionally considered the best month for Bitcoin. It seems that the trend is not going to change.


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