Yuri Molchan

World’s top crypto has soared as much as $4,000 over the past 24 hours, adding 10 percent to its market value; here’s what analysts say about the reasons for it

Contents

  • Skew team explains BTC growth
  • Saturn crossing Mercury is not healthy for Bitcoin

On Jan. 14, Bitcoin spiked approximately $4,000, adding around 10 percent, according to CoinMarketCap.

Now, the king crypto is trading at $38,271, having surged from the $34,000 area where it sat on Jan. 13.

BTC

Image via CoinMarketCap

Skew team explains BTC growth

Bitcoin market cap, according to CoinMarketCap, now totals $710,224,394,629, having surged from $694,069,582,194 overnight.

Read Also:   Bitcoin: Will there be any more entry points?

Analysts from Skew data provider believe that the Bitcoin rise has been caused by a decline in spot trading volumes.

BTC

Image via Twitter

Saturn crossing Mercury is not healthy for Bitcoin

According to a Reuters article, there is a new 22-year-old astrologer (and Bitcoin investor) from TikTok that can predict Bitcoin movements: Maren Altman.

Having exposure to a whopping one million followers on the social media app, the young woman warned her followers last week to watch out for a Bitcoin correction on Jan. 11.

A coincidence or not but, on the very same day, Bitcoin suddenly reversed, dropping 21 percent to below $31,000.

Maren Altman explained the correction, saying that it was caused by Saturn crossing Mercury.

Read Also:   After mainnet launch TrustSwap to acquire another crypto company




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Bitcoin Adds $4,000 Over Past 24 Hours, Going Above $38,000, Here's Why

by Alex Dovbnya
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