An interesting scenario is currently happening in Bitcoin’s market cap were over $2 billion USD has poured into the BTC market cap within 45 minutes.
No, it doesn’t necessarily mean that the Bulls are here or somewhere near, totally not this. It’s the interval of time (45 minutes) and the amount of money (over $2.25 billion) what makes this BTC move a bit extraordinary.
The data suggest, that on December 17, 2018, 14:09 the market cap of Bitcoin (only) was $57 438 809 785 USD, and after 45 minutes the market cap becomes $59 689 133 198 USD. This is quite a drastic surge right here and we highly believe this is not any type of bug.
Stop Losses Triggered?
This soar of the Bitcoin’s price might actually be a healthy move for markets as stop-loss positions have just triggered for all SHORT positions traders. It really might be a catalyst for the market to better consolidate itself as short traders will be ‘lost’ for a while. More on that, additional volume is always good.
UPDATE: After 6 hours when this article was written we now have $62 399 172 062 USD market cap for bitcoin only which is another over $2 billion poured into bitcoin. Currently, around $5 billion USD added into bitcoin in the last 6 hours.
Short positions are certainly out as stop-losses are triggered. This is actually a good thing if we approach the bitcoin from the fundamental side. It means, that such triggers can help to focus on price growth rather than speculating the worth of the asset with shorting.