Bitcoin saw a huge spike in the price and the trading volume also increased by 6 billion in a span of 30 minutes. The crypto community is thinking that this may be the sign of reversal and this is the indication for the bull run. Bitcoin was trading at around $5810 at 3:30 UTC trying to break the $5800 resistance when suddenly the market saw a huge rise in the volume and within a span of 30 minutes price of Bitcoin and all major cryptocurrencies shot significantly.
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Bitcoin price shot up to $6250 and Ethereum also touched $460 mark. EOS, Bitcoin Cash, Litecon and Tron also saw a huge spike in the prices. All this seems to create a positive sentiment in the market but this could also be FAKE Breakout. A fake breakout means Whales/Big Players pump up the coin to a certain level that it seems like an actual breakout to all the Normal Day Traders and they go long on that particular coin and then the whales manipulate the price and dump that coin and earn huge profits and you lose all your hard earned money.
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The sudden rise in the price and volume without any positive or influential news in the space seems that the market is manipulated by whales and big players. These people play with your emotions and then manipulate the price and earn huge profits. We need to keep in mind that we are still in a bearish trend in long-term. For a bullish mode, we need to cross the 6800-7000 USD zone.
what do you think is this the sign for a Bull run or it's just another manipulation by whales? Let me know in the comments!!
Yes it just moved to green , $ 6150
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Yes it just moved to green
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let's see but it seems that the market may take a few days before any huge spike but I hope your words come true.
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that's right but we need to consider the possibility of whales manipulation!
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I think they also don't want a much of fud otherwise they have to wait for a longer period to sell the coins that has been bought in this current time.So i think it would go to atleast 7K+ within 1-2 days.
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That's right! also many people in the market are saying that it will go below 5k but I don't think so that it would go to that level since the miners will have to face a huge loss and they could also stop mining in worst case
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I agree.
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I want to be a whale:)
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I hope you may be one day!
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