Huge green candle pushes bitcoin from $4200 to $5000 in minutes, BTC up 15% over past 24 hours

Huge green candle pushes bitcoin from $4200 to $5000 in minutes, BTC up 15% over past 24 hours

Within the last week, bitcoin has seen strong upward price movement, rising by 19 percent. However, much of that increase was within the last hour, with a massive amount of purchasing activity pushing the price of BTC from $4,190 to $5,000 on Coinbase Pro, a 19 percent jump.

Within the last hour, several large green candles have pushed the price of bitcoin from $4,190 to $5,000. The source of the large purchases is unknown, though it is likely from one, or several, whales—spurring the rest of the market into action.

Source: Coinbase Pro

That said, some have raised concerns about price manipulation:

Meanwhile, in combination with strong upward price movement, there are a growing number of people within Crypto Twitter that believe the indicators suggest the bear market could be coming to an end.

However, with something as volatile, new, and unpredictable as bitcoin, it’s likely impossible to know whether the bullish trend will continue—but many are optimistic.

Update: Prices changed to reflect more recent price movement.

Bitcoin | BTC

Updated: Nov 7 at 2:53 am PDT

Bitcoin, currently ranked #1 by market cap, is up 13.06% over the past 24 hours. BTC has a market cap of $82.25B with a 24 hour volume of $12.45B.

Chart by CryptoCompare

Bitcoin is up 13.06% over the past 24 hours.

Posted In: , Price Watch
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Mitchell Moos

Mitchell Moos

Contributing Analyst @ CryptoSlate

Mitchell is a software enthusiast and entrepreneur. His first startup built algorithms for optimizing cryptocurrency mining. Prior to CryptoSlate, Mitchell was a project manager at a firm that built distributed software on Hyperledger. In his spare time he loves playing chess and hiking.

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