Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.
What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?
Either some people are trying to trigger another BTC rally or it is related with the massive dump in Tether earlier. Either way, some people definitely took some profits from the pump as there was a sell-off in btc. Now let's see if we can consolidate around the current levels (6900), since we went past the last resistance level (high 6.7k), it'll be great if we can stay at these levels for some time.
Not sure why everone is fleeing USDT right now however.
Timing is weird, perhaps there's some insider information going around which scared some people off (?).
One understand that the market is Volatile, anything can happen at any given time, its a market testing on 7k plus price value of Bitcoin on the market, and it drop again, if this is really market rally we can expect that the price value of Bitcoin will goes up on and remain up stream, But i am optimistic, once it break the resistance on the market it will be a all up stream trend on Crypto Trading. Let's wait and monitor the market behavior.