Bitcoin Price Surges, Puts BTC Investors Into High Gear

Bitcoin's Price and Network Activity: One is Faster
  1. The fall of SVB led to a sudden Bitcoin price surge. 
  2. Bitcoin investors seem to be turning their attention back to Bitcoin (BTC). 
  3. Many are expecting Bitcoin to rally and start its next bull run cycle.

Amid the sudden price surge for Bitcoin (BTC) $ 27,998.50 over the last three days, it looks like market sentiment is slowly shifting towards green signals. The hot take about a potential bull run is the popular topic in crypto spaces at the moment. 

To highlight, the most promising conversation is taking place on Reddit in the CryptoCurrency thread. In particular, one trader shares their view on the current Bitcoin price rally. Specifically, he talks about the 33% BTC pump that followed after the SVB crash.

In detail, the post draws light to what a strong move Bitcoin made and how incredible this move is for the crypto market in general. After all, a 33% pump in three days has happened once before. The post mentions that the last time there was a similar price appreciation, it was in October 2019. A very significant time for Bitcoin (BTC) price. 

To add statistics, the post shares a screenshot of the Bitcoin price chart. Here, the Redditor mentions that they live on crypto price charts and so tracked the Bitcoin price recovery. To specify, the chart shows how the price of Bitcoin (BTC) went from $19,890 to $26,540 in just three days. 

Any trader and investor with a portfolio would have immediately noticed this price surge. A price surge like this was last seen in October 2019 when the price of Bitcoin (BTC) went from $7,290 to $10,350. That recorded a 42% increase in just three days.

What’s more, the Redditor shares a bit of a technical perspective wherein their observation adds to further supporting a rise for Bitcoin price. It says that there is still much room for an upside. For instance, on the daily chart, the RSI is yet to go higher and the MACD has just now crossed upwards. At the moment, it has just marked its first green day. 

Lastly, the post goes on to congratulate the crypto and Bitcoin community. The Redditor hopes everyone is in profit and hopes to see a grander Bitcoin bull run than the bull run that took place in 2021. 

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A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.