The price of Bitcoin jumped massively about an hour ago and is largely holding those gains propelling it above the moving averages that signalled a bearish market. It's not possible to assert what caused the jump, but given the magnitude, it was likely triggered by a large purchase that then triggered subsidiary buying. Does anyone have thoughts on the cause?
Given that we've been in a long (for bitcoin) bearish run with many of the weak hand shaken out of the market, could this be the start of the correction or is it a bull trap?
Of course this is all rather pedestrian for Steem up at time of writing 29% in the last 24 hours.
