Bitcoin prices rallied this morning, rising nearly 8% in under 30 minutes. GettyBitcoin prices spiked this morning, climbing close to 8% in a matter of minutes at a time when the market has been experiencing low volatility and modest trading volumes. “As I write this morning, today's price spike does seem a bit suspicious,” said Mati Greenspan, founder of the newsletter Quantum Economics. “With this unusually low volume crypto markets have experienced, any single, large transaction has an [outsize] impact,” he stated. Further, bitcoin prices will fluctuate “based on technical factors,” he added, predicting that it will keep “bouncing from oversold zones and being declined at resistance levels, which are currently at $7,500 and $8,000.”Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.

Source: Forbes December 04, 2019 20:26 UTC