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The price of bitcoin returned to its uptrend on May 1, after recording a further 3% increase in 24 hours in the markets of the altoin.
Bitcoin award at $ 5.3k between bursaries
Cryptocurrency exchange data Bitstamp, which offers one of the most conservative prices of Bitcoin 00 indices, put BTC / USD at around $ 5310 at the time of the press on Wednesday.
The pair had dropped to $ 5066 last week, with sudden losses on April 26 stating new problems for Stablecoin Tether and associated trading. Bitfinex hit the market.
Bitfinex, which is currently refuting the legal charges, has attempted to mask losses of $ 850 million in 2018, while Bitcoin claims are significantly higher this week.
Although the majority of trades have a Bitcoin price of approximately $ 5310, at the time of publication of this release, the "premium" for Bitfinex the traders had reached more than 300 to 5624 dollars per bitcoin.
The phenomenon had developed over several days, social media commentators noting its presence after the last legal debacle of the platform.
12 reasons why it's a bull market?
Bitcoin's performance nonetheless marked a strong comeback for cryptocurrency, which already left plenty of room for promoters who were considering ending their longest bear market cycle.
As of December 2017, the price of bitcoins reached its lowest level of 3130 dollars in December of last year, while 2019 has given a very optimistic tone.
As Bitcoinist Prior to last week's crisis, some of the most well-known members of the community had publicly stated that they were 95% sure that the BTC / USD would not fall below $ 3,000 again.
This week, they were joined by their compatriot Tom Lee, who judged the market's reaction to Bitfinex as potential proof of its new bullish resilience.
"If this … breaking story started between the middle and the end of 2018, the crypto market would probably (probably) have witnessed a panic liquidation at all levels" wrote on Twitter on Tuesday. "Another winter crypto sign ends? … I think so[.]"
Lee was pursuing last week in research he was conducting in his market strategy company Fundstrat Global Advisors, in which analysts have highlighted eleven signs that tend to occur only in a bull market.
The lack of market reaction to Bitfinex, he argued, could even serve as a twelfth reason.
"The skepticism and apathy about the recent crypto price rally remains," Fundo Vito J. Racanelli said on Twitter.
… But as each week progresses, new evidence shows that the new bull market is underway – when will the consensus reach this "turning point"?
What do you think about the performance of Bitcoin prices today? Let us know in the comments below!
Images via Shutterstock, Tradingview.com
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