The unexpected growth of bitcoin

Cryptoeconomics

Bitcoin has confidently turned around after an unsuccessful attempt to consolidate in the lower trading framework.”Digital gold” is now in the trading range of $3,575 – $3,453. In the morning, the cryptoasset has stopped at $3457 with a daily change of +1.10%. Judging by the trades analysis, market participants do not want to see Bitcoin at lower levels. Otherwise, one would expect to see support at around $3,224.

Other cryptocurrencies have also turned around and entrenched in the green zone. EOS has become the growth leader among the most capitalized cryptocurrencies – it is trading at around $2.28 with a change of + 2.71%. ETH has shown slightly better dynamics – it is trading at $105.90 with a change of +1.24%.

As for the capitalization of the cryptocurrency market, there is some optimism. The figure is now around $113.26 billion, which is much better than yesterday. This, in turn, supports the buyers. If the cash flow for purchases increases, we can expect the achievement of last week’s trading levels.

No significant news as for yesterday

The news background of yesterday did not have a strong impact. During the day, news with a small degree of importance has been dominating, which could not affect the course of trading. There were also no prerequisites in terms of news to confident purchases. But if you consider that the growth of Bitcoin was based on the growth of capitalization, the situation indicates the speculative nature of the trading.

BTCUSD (H4): a hope of growth

Bitcoin remains above the support level of $3,453. If a new growth begins on Wednesday, the prospect of reaching the level of $3,575 will emerge. We believe that this is the potential of today.


With an insignificant news background, Bitcoin prices have increased. If there is a series of positive news, the growth of digital currencies may accelerate.

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