On the night of October 26, the price of bitcoin reached $ 10,300. The growth was more than 40% per day. Then began correction.
This is the fourth largest daily price movement and the largest since May 10, 2011, said analyst Alex Krueger.
This is also the 54th largest movement when comparing the daily high and low. The last time this was observed on January 14, 2015.
According to Kruger, such a rapid growth is due exclusively to fundamental factors, namely, a statement by President Xi Jinping of the PRC in which he supported the development of the blockchain.
Coinmetrics founder Nick Carter said thatclosing a daily candle at $ 10,000 will make the day the third most profitable in the history of bitcoin. He recorded the latest such movements in 2010-2011.
The blockchain appeared on the front page of the Chinese newspaper People’s Daily, and some universities in the PRC have already promised to open courses.
At the same time, the newspaper does not say anything about cryptocurrencies, nor about bitcoin in particular. Jinping’s blockchain announcement also affected XNET’s share growth of over 100%.
According to DataMish, short positions at $ 252.1 million were eliminated at BitMEX.
Amid rising Bakkt, a new daily record was set - 1,179 contracts were traded.
In anticipation of a sharp jump to $ 10,000, Tether printed several batches of USDT.
The USD 30 million transaction then returned to Tether Treasury with Bitfinex.
The transaction for 45 million USDT was a transfer from the Ethereum blockchain to the TRON blockchain of funds from Bitfinex.
Twitter users have responded to growth with enthusiasm, jokes and memes.
“Remote Tweets and Graphics Everywhere”- wrote the trader Whale Panda, hinting at the unlucky analysts.
“Thank you, Peter Schiff. Your forecasts were correct from the moment when Bitcoin was trading at $ 17.50 ", - he laughed at the famous critic of Bitcoin, who this week predicted a fall to $ 2000.
“Thanks to Nuriel Roubini, Peter Schiff and Craig Wright for convincing me not to sell.”
Twitter CEO Jack Dorsey overlooked the BTC sale option.