Over the weekend the crypto markets incurred a massive influx of buying pressure that extended the upwards rally they have incurred over the past several weeks, with Bitcoin setting fresh year-to-date highs at $7,800, up significantly from its 2019 lows of $3,400 that were set in February. Although it is always somewhat unclear as to what, or who, drives these rallies, one prominent economist and analyst believes that a small handful of large buyers who are actively engaging in strategic buying have driven this surge.
This massive surge has led many analysts to conclude that the bear market has officially ended, which likely means that further gains are imminent and that the entire crypto markets are currently in the early-stages of the next bull trend. As the week kicks into gear and more news breaks regarding the imminent launch of institutional platforms, including those being offered by Bakkt and Fidelity, it is likely that the long-term significance of this rally will become clearer.
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https://www.newsbtc.com/2019/05/14/analyst-ongoing-bitcoin-rally-driven-by-a-handful-of-strategic-buyers-where-will-they-send-btc-next/In a big move that surprised many inside and outside of the world of cryptocurrency, there is now no stopping the upswing of Bitcoin and if this trend will never be plugged, we can see soon Bitcoin hovering around $10,000. Now, there are those saying that this recent surge is actually just a manipulation of some "whales" in the market. Do you believe such analysis to be true? What will happen if these whales will suddenly cash-out...will it mean that Bitcoin can go dump?
