Bitcoin managed to escape from the extreme fear territory.

[Lens1000]

Bitcoin and other cryptocurrencies have recovered from the long lasting extreme fear region. The extreme fear lasted for months after the bitcoin reached the all time high price of $64000.

The bullish movement surfaced at the weekend moving past the $36000 price. Bitcoin as been riding on a rough terrain for months and not breaking the resistance around $32000 in weeks until the this weekend.

It's important to note that bitcoi as not fully recovered from the fear index , it managed to escaped the extreme fear index. This connotes that it is not completely out of the woods as it is still the fear territory.

Bitcoin recently faced one of the longest stretch of the extreme fear in the cryptocurrency history. It managed to upturn the long lasted lows at the weekend making the price to go a little above $36000.

What do you think is responsible for the price hike in bitcoin and other cryptocurrencies?

 

[Sherman198]

Though, Many people have been in awe and surprise as the price of Bitcoin and the alts that were plundered by the bear run has now starting to gain momentum.... However, many people believed it's definitely cos Elon Musk's company has decided to be accepting Bitcoin back as payment and some other positive news in the cryptverse helps the surge.

 

[Mika]

The recent price hike for bitcoin and all other crypto currencies was due to the rumors that Amazon is considering to accept bitcoin payment and even considering developing a coin by 2022. However, it turned out that this was a fake news, which led to slight drop in the price of major crypto currencies

 

[Alexandoy]

After reaching the $40k level from the previous $29k level, Bitcoin is not safe yet. The price is still fluctuating although the difference are in small amounts only. The present condition can be maintained if the big players will not make a transaction. The rising trend is encouraging the public to buy which can contribute to the rise in price.

 

[Ahmedo24]

The fact is that the recent conference B-world held that involved Elon Musk and the Twitter CEO had significant impact in the cryptocurrency market which is one factor is responsible for the sharp recovery we witnessed recently and there are still more to come because investors are beginning to pump in money into the market.

 

[Lens1000]

Though, Many people have been in awe and surprise as the price of Bitcoin and the alts that were plundered by the bear run has now starting to gain momentum.... However, many people believed it's definitely cos Elon Musk's company has decided to be accepting Bitcoin back as payment and some other positive news in the cryptverse helps the surge.

The price soar is definitely due to the increase I the bitcoin hashrate and the positive news making rounds on bitcoin acceptance. We should expect a further rise because my crypto chart analysis told a little rise in the next 24hrs. Phony demand and supply order also cause a change in price in the upward movement.

 

[Lens1000]

The recent price hike for bitcoin and all other crypto currencies was due to the rumors that Amazon is considering to accept bitcoin payment and even considering developing a coin by 2022. However, it turned out that this was a fake news, which led to slight drop in the price of major crypto currencies

Rumours also contribut to the demand and supply order of the cryptocurrency. The positive news will cause a spike in the upward movement. Rumours also have it that the giant investor could fake demand and supply order inorder to increase the price of the cryptocurrency. The fact about this is not known yet.