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Bitcoin Crosses Above $4,000: Genuine Rally or Bull Trap?



Just two days after Cboe announced that it was going to delist bitcoin futures, the cryptocurrency’s spot market turned near-term bullish.

The BTC/USD exchange rate surged 3.30-percent in the past 24 hours to establish a session high towards 4069. Simultaneously, the rest of the cryptocurrency market also went green, with Bitcoin Cash leading the bull pack with 17.81% gains, followed by Litecoin, EOS, and Ethereum that rose 8.44-, 5.47-, and 6.25-percent, respectively. On the whole, the cryptocurrency market capitalization added up to $6 billion worth of investments in a day.

All Top Cryptocurrencies Trended in Green This Saturday | Source: CMC

Not the First Time

The bitcoin rally follows an overstretched stable action since February 25. The cryptocurrency’s significant levels remain unchanged as it traded inside a $200-range for almost two weeks. Before that, bitcoin failed when it came to piercing through key resistance areas. At the same time, the cryptocurrency received…





Read Full Story : NewsBTC

2019-03-16 11:17:08

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