After nearly half a year of little variation in prices, Bitcoin has suddenly surged to US$5,000 on 2 April. This represents a 20% increase in a matter of hours. And the reason behind this price increase is a massive order for Bitcoin placed by a mystery investor.
What Happened on 2 April?
According to Reuters, an undisclosed investor placed an order of US$100 million across various exchanges in the US and one in Luxembourg. The news agency quotes Oliver von Landsberg-Sadie, the Chief Executive of BCB Group, a cryptocurrency company, who said:
There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC. If you look at the volumes on each of those three exchanges – there were in-concert, synchronized, units of volume of around 7,000 BTC in an hour.
So far, there is no clear explanation for this large order. Also, the investor who placed the order has remained anonymous.
The Aftermath of the Large Bitcoin Order
Of course, the market has settled a little after the initial surge of price. By the afternoon of the same day, the Bitcoin price had settled at US$4,800. Since then, analysts have been trying to explain this sudden move on the crypto market.
However, the massive single order triggered a significant increase in the trading activity for the day. Over 6 million transactions took place in just one hour – almost four times more than the daily average. Most of these transactions went through exchanges based in Asia.
Also, it is worth noting that the Bitcoin price surge influenced other cryptocurrencies, as well. Both ETH and XRP saw price increases of more than 10%. Analyst at eToro Israel, Mati Greenspan, explains the phenomenon: Usually bitcoin is the leader of the market and altcoins tend to follow, as far as direction and sentiment is concerned. Today bitcoin is in the driving seat.
This is the second significant price increase for Bitcoin. In December 2017, the price of the cryptocurrency went as high as US$20,000, mainly influenced by retail investors. This did not last very long. In 2018, the Bitcoin prices dropped to one quarter of this all-time high value.
However, there seems to be a new price surge in the making after the market events on 2 April. After a slow price decrease over the last two days, at the time of writing, the Bitcoin price has once again crossed the US$5,000 threshold.
We will keep you informed of any further significant changes on the crypto market.
Comments(22)
comment Phone Tracker Free says
January 30, 2024 at 3:44 amNow the positioning technology has been widely used. Many cars and mobile phones have positioning functions, and there are also many positioning apps. When your phone is lost, you can use such tools to quickly initiate location tracking requests. Understand how to locate the location of the phone, how to locate the phone after it is lost?
comment vorbelutr ioperbir says
March 7, 2024 at 12:44 pmWe are a group of volunteers and starting a brand new scheme in our community. Your web site provided us with useful information to work on. You’ve performed a formidable activity and our entire neighborhood will likely be thankful to you.
comment jack rabbit vapes says
March 18, 2024 at 6:55 amHi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ
comment vorbelutr ioperbir says
March 20, 2024 at 6:07 amHmm is anyone else experiencing problems with the pictures on this blog loading? I’m trying to figure out if its a problem on my end or if it’s the blog. Any suggestions would be greatly appreciated.
comment vorbelutr ioperbir says
March 20, 2024 at 6:14 amI’m still learning from you, as I’m trying to reach my goals. I certainly enjoy reading all that is written on your blog.Keep the aarticles coming. I enjoyed it!
comment blue mint elf bar review says
March 21, 2024 at 2:36 amHi, It has come to our attention that you are using our client’s photographs on your site without a valid licence. We have already posted out all supporting documents to the address of your office. Please confirm once you have received them. In the meantime, we would like to invite you to settle this dispute by making the below payment of £500. Visual Rights Group Ltd, KBC Bank London, IBAN: GB39 KRED 1654 8703, 1135 11, Account Number: 03113511, Sort Code: 16-54-87 Once you have made the payment, please email us with your payment reference number. Please note that a failure to settle at this stage will only accrue greater costs once the matter is referred to court. I thank you for your cooperation and look forward to your reply. Yours sincerely, Visual Rights Group Ltd, Company No. 11747843, Polhill Business Centre, London Road, Polhill, TN14 7AA, Registered Address: 42-44 Clarendon Road, Watford WD17 1JJ
comment discover this info here says
March 22, 2024 at 4:40 amAn interesting discussion is value comment. I feel that you must write more on this topic, it might not be a taboo subject but generally individuals are not sufficient to speak on such topics. To the next. Cheers
comment internet says
March 22, 2024 at 4:51 amGreat write-up, I’m regular visitor of one’s blog, maintain up the excellent operate, and It is going to be a regular visitor for a lengthy time.
comment over here says
March 22, 2024 at 5:11 amI just could not go away your website before suggesting that I extremely loved the standard information a person provide to your visitors? Is going to be back incessantly in order to check up on new posts.
comment click here for info says
March 22, 2024 at 5:17 amI loved as much as you will receive carried out right here. The sketch is attractive, your authored material stylish. nonetheless, you command get got an nervousness over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly a lot often inside case you shield this hike.
comment Buy nicotine pouches says
March 23, 2024 at 4:24 pmEnjoyed reading this, very good stuff, thankyou.
comment Buy nicotine pouches says
March 23, 2024 at 4:25 pmWell I really enjoyed studying it. This article offered by you is very effective for accurate planning.
comment Buy nicotine pouches says
March 23, 2024 at 4:50 pmThanks for any other informative website. The place else may just I get that kind of information written in such an ideal way? I’ve a undertaking that I’m just now working on, and I’ve been at the glance out for such information.
comment Buy nicotine pouches says
March 23, 2024 at 4:50 pmHi there very nice website!! Guy .. Beautiful .. Superb .. I’ll bookmark your web site and take the feeds additionallyKI’m satisfied to search out numerous helpful info right here within the put up, we need develop more strategies on this regard, thanks for sharing. . . . . .
comment care agencies says
March 24, 2024 at 9:02 pmI’m not that much of a internet reader to be honest but your blogs really nice, keep it up! I’ll go ahead and bookmark your site to come back in the future. All the best
comment care providers says
March 24, 2024 at 9:03 pmAwsome article and right to the point. I don’t know if this is really the best place to ask but do you people have any ideea where to employ some professional writers? Thank you 🙂
comment private care services says
March 24, 2024 at 9:22 pmTerrific post but I was wondering if you could write a litte more on this topic? I’d be very thankful if you could elaborate a little bit more. Thank you!
comment white hat hackers for hire says
March 26, 2024 at 9:40 amI believe this web site holds some really excellent info for everyone : D.
comment toroidal transformers says
March 26, 2024 at 5:01 pmMagnificent goods from you, man. I’ve understand your stuff previous to and you are just too great. I actually like what you have acquired here, certainly like what you are saying and the way in which you say it. You make it enjoyable and you still care for to keep it smart. I cant wait to read far more from you. This is really a tremendous web site.
comment toroidal transformers says
March 26, 2024 at 5:10 pmVery interesting details you have mentioned, thanks for posting. “I love acting. It is so much more real than life.” by Oscar Wilde.
comment toroidal transformers says
March 26, 2024 at 5:26 pmI really appreciate your piece of work, Great post.
comment toroidal transformers says
March 26, 2024 at 5:33 pmI found your weblog website on google and test a few of your early posts. Proceed to keep up the very good operate. I simply extra up your RSS feed to my MSN Information Reader. Looking for ahead to studying extra from you in a while!…