I see that the price of $BTC went from $6300 to $6600 very fast. I'm wondering why that happened and if that's a bullish sign.
Since we did not go under $5800, it feels like the bearish market is starting to run out. If we continue to hold at these levels, is the bullish market coming sooner and faster than expected?
Also, I wanted to ask how Bitcoin Future Contracts work and if there is a possible relationship with the price jump. From what I understand, people agree on Bitcoin future contracts by agreeing on a price and time to sell BTC for? Is that correct? Or could someone give a short explanation on how they work and how they can affect the price?
It is still too early to say. Earlier we saw bitcoin rising up to 6400 very quickly and dropped off again. It shows the market is still very unstable but I do hope it is going to keep pumping up this time.
100$ or 200$ increase or decrease in bitcoin price is always expected from bitcoin, it is right that it is too much early to say anything about bitcoin price. But still if it is a rally then it is a good news for the bitcoin investors, and hopeful that they will be very soon recover all their lost, because most of the investors are still holding their bitcoin specially those people who trade bitcoin above 15000$.