Bitcoin Jumped Up for $1.5K in Just a Few Minutes
Just on the second day of November, Bitcoin decided to make the first breakout. In a few minutes, the BTC price suddenly jumped up by $1,500.
According to TradingView, the BTC / USD rate has risen by more than $1,500 in a matter of minutes. At the time of this writing, the price of Bitcoin was 63,300. This is the highest level in a week since October 25.
Popular analyst Michaël van de Poppe even suggested that such a movement in the rate indicates the possible readiness of Bitcoin for a new upward surge and published a chart with assumptions about the further movement of the rate:
A user with the nickname BTC_JackSparrow published a chart of the price movement of BTC on this behaviour of Bitcoin, stating that this is only a small sample, but historically 100% accurate prelude to a multi-month rally. “
The latest data shows that various funds are gearing up for new all-time highs by buying up large amounts of BTC.
In particular, in October, funds bought much more BTC than miners mined. And the miners, in turn, also decided to stock up on Bitcoins.