Bitcoin Price exceeds $ 9,700 to peak in 3 months
Bitcoin (BTC) continued to head north to peak in more than three months after questioning expectations of a temporary price cut.
In eight hours, starting at 10:00 a.m. UTC on February 5, the price of BTC rose by 5.9%, going from 9,250 USD to around 9,775 USD before a small agreement was reached, which which has made current prices around $ 9,559.
Oliver von Landsberg-Sadie, CEO of the British encryption company BCB Group, said the recent moves at BTC were likely due to the shallow depth of the market, which is increasing the supply of buyers.
"Any significant size continues to rock the boat, while lower bullish drivers are the usual suspects in the next half division," said Landsberg-Sadie.
However, the impact on the recent price hike from BTC could also be due to activity in the altcoin market.
Su Zhu, co-founder of Three Arrows Capital, said that the price movements were led by highly capitalized altcoins, especially ether (ETH).
"There have been statements from the CFTC that ether futures will arrive before the end of the year, and there have been recent positive technological advances both in the Ethereum base layer and towards ETH2.0, "said Zhu.
The short-term 7-day change in the price of ETH increased by 18.5%, as did the XRP which started to increase the BTC, while Bitcoin Cash (BCH) and Bitcoin SV (BSV) gained 17 6 respectively And 12.9. Percentage for 24 hours. Display Messari data.