Analyst Highlights Key Factors To Notice Following Recent Bitcoin Price Hike

Investors are very particular about the price of Bitcoin. There’s no surprise there, seeing that the values of other digital tokens depend on it. When the price surges, the market goes uptrend and vice versa. Bitcoin, being the most prominent cryptocurrency, has maintained a stagnant price movement in the past couple of weeks. This fact has kept the crypto market in the red zone for a while, and investors are still sceptical about what’s to come. Related Reading: Bitcoin Bearish Signal: Exchanges Receiving Large Deposits But the market saw a sharp surge in Bitcoin price. Its bullish move also reflects in the broader crypto market, with several tokens displaying a bullish move. Recent BTC Surge Bitcoin’s value increased by about 8.3% after the past seven days due to its recent surge. This price movement brought the total capitalization of the crypto market to $1 trillion as of yesterday. The coin stands at $20,463, per data from at the time of writing. Analysts have connected the recent surge of the token to a few things, including the past and current purchases from significant investors like Bitcoin Whales. Dating from January 2017, Bitcoin Whales have purchased an average of $15,800 worth of Bitcoin, according to data Meanwhile, another metric shows that BTC has been trading lower than its RP (Realized Price). Again, this information came from analysts. Based on the metric, Bitcoin can grow even further if ...