() analyst Tone Vays said that the recent market surge may have no specific catalyst, and that lower prices could still be in the cards in an with Cointelegraph on April 2.
Speaking about a possible driver of ’s on the night of , Vays said that there is not always a trigger, arguing that it could be just speculation and that “ is no different than any other asset.”
Vays stated that he had always expected to escalate to $5,000 once it crossed the $4,200 price mark, although he did not expect to break $4,00 this week. Vays added:
“Shorts are liquidated, there were short squeezes, more people jumped onto the hype, and a lot of media always look for a trigger to cause big drops and big rises. I would say more than half the time they are just trying to match to something that it did not necessarily need to happen.”
As Cointelegrpah earlier today, some have suggested that s investors changing pounds to ahead of Brexit — which is scheduled to happen in mid-April — could have been a possible catalyst, while others attributed the surge to algorithmic .
Also today, Bloomberg that the number of active increased in the two weeks leading up to the rally. Specifically, 40 to 50 percent of all had been held in digital wallets that were inactive from one to six months, while the average has reportedly been 10 percent since March 15.
Published at Thu, 04 Apr 2019 00:00:24 +0000
