Bitcoin continued his fast-moving business and exceeded the $ 13,000 mark yesterday, reaching nearly $ 13,800. An incident that caused the fall of the Coinbase site caused a temporary price drop of $ 1,500. However, the BTC quickly recovered as soon as the exchange came back online.
An increase powered by traders with seniority
An analysis by Coinlib shows that Bitcoin’s capital inflows are largely due to experienced traders. A large number of them opted for the liquidation of other commodities to feed the growth of Bitcoin.
Over the past 24 hours, Tether has provided most Bitcoin buy-ins, worth $ 4.21 billion.
Second place was Ethereum, which posted $ 1.62 billion in the same period. The US dollar, on the other hand, produced about 1.16 billion dollars, according to Coinlib.
“All of the data we have shows that the current #bitcoin rally is driven by (cripto traders) who are already familiar with the market,
commented Mati Greenspan, senior analyst at the eToro platform.
By contrast, the 2017 bubble was fueled by newcomers to the market, pushed by the FOMO phenomenon.
Optimists claim that the FOMO trigger will push the Bitcoin price above.
Coinbase – Offline for about half an hour
According to the Coinbase Monitoring page, the exchange reported major disruptions to its website, mobile applications and API. Domestic systems seemed to be functional at that time.
For half an hour the exchange was inaccessible, after which a solution that reactivated the services was implemented.
At the same time, the Robinhood trading application also reported problems with its crypto-trading service.
At about the same time, the Bitcoin price dropped $ 1400, according to CoinMarketCap. Subsequently, BTC has resumed its upward trend and is currently traded at $ 13,300.
A sustainable upward trend
Bitcoin’s recent growth appears to be sustainable, with the dominance rate rising to over 63%.
An increase in prices, accompanied by an increase in dominance, indicates that money is invested for a long time. Some of the other brands, such as Litecoin, EOS and TRON, have seen price cuts, which would indicate that investors are turning to Bitcoin.
The $ 13,000 threshold has been exceeded. Do you think Bitcoin will record a new record in the short run?
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