Cryptocurrency
Fool Me Twice: Will Bitcoin Rally on April Fools’ Day Once Again?
As NewsBTC reports, “April 1st, 2019 kicked off a massive rally in Bitcoin that over the course of the three months that followed, the cryptocurrency rose from $3,000 to $13,000. “Will Bitcoin price rally once again this April Fools’ Day, or will the market not fall for the same tricks as the last time around? “In late […]
As NewsBTC reports, “April 1st, 2019 kicked off a massive rally in Bitcoin that over the course of the three months that followed, the cryptocurrency rose from $3,000 to $13,000.
“Will Bitcoin price rally once again this April Fools’ Day, or will the market not fall for the same tricks as the last time around?
“In late December 2018, Bitcoin set a ‘bottom’ at $3,100, then spent the first quarter of 2019 ranging near the lows.
“Starting on April Fools’ Day in 2019, played bearish traders expecting additional downside as fools, breaking out of the trading range and going on a parabolic rally.
“At each major resistance point, bearish traders entered short positions that were merely used as rocket fuel for the asset to continue its powerful push upward, forcing shorts to cover their positions as Bitcoin price climbed higher and higher.
“The start of the rally was the talk of the finance world, with conspiracy theories surrounding a single-actor coordinating a massive buy order across multiple exchanges during the late hours of the night…”