The Bear market is starting to show signs of being over as the Bitcoin continues it climb to new highs. The Bitcoin broke the $8300 mark fueling that the crash of 2018 is finally over for the crypto market.
Bucking the Bear Market
The signs that the bear market was over could be seen in the recent strength of the Bitcoin. The bitcoin blew past the $8000 mark in the early part of trading and went up to $8300. This may suggest that the bear market is breaking, and the bears are starting to look for bullish strategies they can add into their portfolios.
We could also point to the multitude of positive developments that fundamentally point to a bullish strategy. First, the entry of bluechip companies into the world of blockchain like the attempts of Samsung, Ebay and Facebook. Then, there is the adoption of Fidelity of their very own Crypto trade execution service. Perhaps the largest sign that the bear market is over is the large volumes that the crypto market is trading at the last few days.
Unprecedented Volume Pushing Crypto Away From Bear Market
The best sign that the bear market is over is the strength of the trading volume. The volume traded in the last 24 hours grew to $95 billion. An increase volume like this is a sign that there is renewed interest in the crypto market.
Fears That Increased Volume May Have Been Manipulated
There are some analysts that suggest that the rise in the volume may have been brought about by the Whales looking to push the market by increasing trading and pushing others to do the same. In the Chicago Mercantile Exchange or CME, it showed an impressive growth with all time highs. More importantly, there is almost no way you can fake volume there.