BTC gets ALMIGHTY pump: let the good times begin!

Currently up 16% it began an hour ago and peaked just under $7800, which is well over a 20% increase.

Naturally it is coming back down now, but this must surely be a great sign of things to come?

I have not seen a pump of this magnitude since last year.

Investors who were waiting to see signs of life from this king of coins will now be taking note.

Thanks to @silvergoldcrypto on Whaleshares for the above chart.

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All the top coins are looking strong in this moment.

I can't find any news which relates to why this might have happened.

Ideas anyone?

Forbes have just posted this article if you're interested to hear their take on the reasons behind the pump.

In short they are saying it was caused by a Tether sell off.

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On Trading View the user known as CryptoOfLondonAnalysis said this 14 hours ago:

As you can see from the daily chart , Bitcoin has reached a turning point. Solid long-term support from below and at the end of a wedge formation. Any day now Bitcoin will have to make a decision and I expect it to be the start of the next bull run for Bitcoin and Crypto as a whole.

Bitcoin is classed as a 'Currency' but is traded as a 'Commodity'. What you need to remember is there is only a limited supply of Bitcoin and with rarity comes increased value.

My expectation for Bitcoin is to next head for $54500 before another correction.

I love this guy's optimism!

Link to Trading View here

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