Bitcoin overcame $ 6,000 on Bitfinex and $ 5,700 on other exchanges
Bitcoin rose more than 6% in the morning on Friday and climbed above $ 5,700, allowing it to update the 2019 high. Cryptocurrency capitalization has again exceeded $ 100 billion, which is in line with the levels of November last year, but still much below the values of earlier segments.
The growth has been observed despite the recent admission by Tether’s lawyer that not all of its USDT tokens are liquidly backed. A number of analysts, before today’s rise, predicted the next upward movement, assuming that this is how the market could react to the negative around Bitfinex and Tether and the added short positions against this background, but not excluding that the upturn may be short-lived.
At Bitfinex itself, where over the past few days there has been an excess of the bitcoin rate relative to other sites by several hundred dollars, the largest cryptocurrency is already trading above $ 6,000. At the same time, the main Bitfinex BTC / USD pair occupies only the fiftieth place in the general list in terms of trading volume over the last 24 hours.
On Thursday, New York-based consulting firm Delphi Digital presented its latest report on the state of the bitcoin market, where it repeated the ideas it described in its December publication, according to which the minimum of the current cycle was left behind. Analysts build their conclusion on the basis of observing coins that have not moved for more than a year and, presumably, belong to long-term cryptocurrency holders.
Delphi Digital claims that sales from such holders have been minimal in recent months. “In fact, we are starting to see very little upward movement in long-term holder positions, which is in line with the trend that marks the low in the previous cycle,” they write..
Other major cryptocurrencies followed Bitcoin and gained 2-8% each.
At the same time, the segment’s capitalization reached $ 186 billion, which also corresponds to the indicator on November 15, 2018.
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