On Wednesday December 18th, Bitcoin had a 15% jump in one day AND a 6% “round trip” in 10 seconds.
According to data from CryptoCompare, Bitcoin started yesterday at $6,629, and three hours later, it had gone up by $100. The online asset then started falling and kept on falling until 13:20 UTC by which time it had reached $6,466.
Then the price attracted the bulls and Bitcoin started its recovery. By 22:55 UTC, Bitcoin had managed to bounce almost 15% from its intraday low to $7,413 the intraday high for December 18th.
Crypto analyst Tuur Demeester, Editor-in-Chief of Adamant Research and Founder of Bitcoin alpha fund Adamant Capital, seemed excited about seeing Bitcoin potentially establish a bottom for 2019. He tweeted: “We’ve now twice tested the support level—what a thriller.”
Also another crypto analyst and trader Alex Krüger, was even more excited. Alex tweeted:
“That’s a 6% roundtrip in 10 seconds. A rare event.
A roundtrip of that speed/magnitude may have happened 2-3 times in the last two years (would need to check).
(unlevered) Traders’ Paradise”