For the first time since March 2017, buy orders now compose over 92% of market activity.
Hot on the heels of a massive $120 billion recovery, the massive surge in buy orders heralds an impending bull market that could potentially exceed the monstrous late 2017 run up.
Data from TurtleBC demonstrates that cryptocurrency buy market percentage across a diverse range of coins including Bitcoin, Ethereum, Ripple, Dash, NEM, and money is currently at a massive 92.86%, dwarfing the December 2018 high of 45.71%. Bitcoin Gains $1,000 in One Week.
Buy order presence isn't the only indicator that hints toward a massive run up in the near future, however - with Bitcoin exhibiting a meteoric $1,000 jump over the last three days, investors are moving in quickly to capitalize on what is anticipated to be a return to the $10,000 BTC psychological barrier.
Cryptocurrency market observers are calling for a dramatic increase in Bitcoin values sooner rather than later.
"We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year It's overdue. Bitcoin was incredibly oversold".
While Lee is notorious within the cryptocurrency community for his consistently bullish position on Bitcoin, his prediction that selling pressure would ease subsequent to tax day in the US was correct.
The sheer level of capital that is currently being invested in the blockchain industry makes it highly unlikely that Bitcoin - the undisputed market cap king - will be falling from grace any time soon.
As the oldest, most valuable, and most liquid crypto-asset, Bitcoin is considered the "Gold standard" of the blockchain, and can be exchanged for virtually every other altcoin on the market.
With cryptocurrency buy order ratios reaching an all-time high and tax season finally over, the impending crypto bull run to end all bull runs isn't just possible - it's inevitable.
Bitcoin Nears $9,000 As Crypto Buy Orders Compose 92% of Market: Bull Run Imminent
gepubliceerd op Apr 21, 2018
by Cryptoslate | gepubliceerd op Coinage
Vermeld in dit artikel
Cryptocurrency News From Japan: Jan. 20-24 in Review
Japanese political party proposes digital currencies.
Crypto and Blockchain Firms Pitch In to Help Coronavirus Victims
Some blockchain and cryptocurrency firms have pledged to help victims of the coronavirus in Wuhan, China.
One Wallet Owns 27% of Ether Behind MakerDAO's Sai Stablecoin
Of all the Ether locked in the collateralized debt positions of the old MakerDAO system, 27% belongs to a single Ethereum address.
User Retention: The Holy Grail for DApps Moving Beyond Buzzword Status
DApp projects in 2019 continued to suffer from their usual issues like poor user retention and the difficulties of navigating user interfaces, among others.