Once again Bitcoin surprises us are his rapid recovery. It is a symptom that the market is bullish and buys all the declines. Never in the history of Bitcoin had a daily candle (USD or EUR) been as a buyer as in this one that we observed after last July 20. In all the exchange houses the price was recovered in one day 30% and in a matter of 4 days a variation of 50%.
Bitcoin continues strong, recovers its correction appreciating 50% in 72 Hours
The most daily candle in the history of Bitcoin.
Graphic Bitfinex (USD) rebound 1D 30%
Market psychology discounted the uncertainty and fears of the possible bifurcation of Bitcoin in Bitcoin Cash on 1 August, and the price was set at relative minima a few months ago. It was a good rebound point to recharge because I think we will not see those prices again in a long time. The market is fast corrects faster and faster, the price wants to reach consolidation points, maybe there is some interest that Bitcoin visit a specific quote soon, the big move the market, we follow.
For now, we can only follow the price action that is the one that translates everything behind. This rapid rise is said to be based largely on the split or fork of the main chain of Bitcoin on August 1, every wallet/exchange that supports Bitcoin Cash will receive the same amount of Bitcoins in the new token BitcoinCash, We will have a double Bitcoin and maybe the current price will be distributed in both. By the mere fact of obtaining those new tokens, the users have bought bitcoins not to be left out of this distribution, for that reason we have witnessed this strong rise.
Graphic in EUR (Kraken Exchange)
We can continue to rise in this possible scenario if the quote in this case in euros exceeds € 2455 or otherwise would keep us in the channel we draw by where you could guide the price, the price orders.
And you do you think? Are turbulence coming or will everything remain the same after August 1?
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