This big green candle in bitcoin is because of Bitcoin futures.
Not any news, not any event, not any FOMO but only because to liquidate the positions in Bitmex.
From last three weeks, bitcoin can't break 6800$ resistance, many times it tried but at the end it failed to break.
Traders earn so much by shorting the bitcoin from 6800$ level.
But this time when people open short positions for a large amount of money from 6800$ level, it breaks it with a high force of buying. It results in liquidate all the short positions and make traders loose all money which they earn previously by shorting the bitcoin from 6800$.
You all can see the below white line which was resistance. that is 6800$.
Now i can say that you all know the reason of this pump.
Thanks for reading my post.
Please upvote, comment and re-steem my post.
EVERYBODY YOU SHOULD INVEST IN BITCOIN
People need to understand that it is future currency and in coming years it will boom the technology.
Yup, you are right. Traders were shorting, thinking that there will be a dump like in the previous cases. Instead, the price rose this time, which made them loose their money.
Sumit Kapoor already predicted this b4 in one of his video, and exactly that happened
I also lost my 0.01 BTC in this trade.....i saw Sumit Kapoor's video,,,he is a amazing person with lots of knowledge...
If you liked my post then please re-steem it...
Don't mention about keep it up
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Hi, I am Sohag form Bangladesh. I am new on Steemit or Your Community.
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Ok bro