I would like to recall you that the BTC coin has been showing stable growth for 7 weeks with rising trend lines on the stock exchanges. In early April, the price of BTC raised beyond $ 5,000, which provoked of a surge in activity of all participants. Trading volumes on the stock exchanges increased by 950%, more than 40% of all inactive bitcoin wallets returned to the active state, there was talk of exchange rate manipulation, and ordinary users again started talking about the cryptocurrency trend.
According to the Google Trends analytical center, evidence of increasing interest from Internet users has appeared. According to the results of service statistics, it can be concluded the increase in the BTC price to $ 5,000 has caused a fixed interest of the population from 3 continents. At the first positions of search queries, there were again requests about bitcoin and blockchain. The greatest interest was shown by users from Austria, Switzerland, USA, Netherlands and South Africa.
The point is that in 2018, following the analysis of Google Trends, the word “bitcoin” became the most frequent search query in the “What is …?” Category. And now the vector of requests has changed towards the search for rational operations with cryptocurrencies.
The mass percentage of users wants to understand how to deal correctly with their assets and react to BTC price hike. If at the end of 2018, the cryptocurrency market was in decline, and the value of BTC made mining and coin trading unprofitable, now everything has changed. Most analysts predict further growth of the main cryptocurrency, which pulls up the rest of the market.
For example, Mike Novograts – the head of Galaxy Digital investment company made an open appeal to investors and advised them to sell the growing Litecoin, buying BTC with the proceeds. For the first quarter of 2019, LTC increased in price by 100% – from $ 30 to $ 61. For this coin is a record figure for all time of its existence.
Individual experts claim even now BTC is not sold at its market price. The real cost of Bitcoin should be about $ 14,000.
In contrast to these predictions, information appears on the network that the cryptocurrency rate is a sign of manipulation. Some of the articles are devoted to the fact that immediately after the correction of the BTC rate, there was a slump in the load on the blockchain of the coin. This is evidence of artificially overestimating data, by means of a DDoS attack on the blockchain industry.
If we summarize all the information, the excitement for cryptocurrencies repeats the events of 2015. Traders believe in an exponential increase in the rate and already fix a new mark for BTC, the cost will be about $ 6000.
Editor of IMD News