This week, a massive Bitcoin rally shook up the entire crypto market with a powerful move that may have signaled the end of the long, painful bear market that has plagued the asset class ever since the hype bubble appeared in late 2017 .
The price of Bitcoin skyrocketed from under $ 4,200 to over $ 5,000 over an hour or so. On one exchange, however, a stable coin pair for BTC, which Bitcoin traded at a price of over $ 10,000, cost an investor over double the current price of Bitcoin.
Bitcoin Over $ 10K? Only on One Stable Coin Trading Pair
– ₿lackbeard (@crypto_blkbeard) April 2, 2019  At Binance, the USDS / BTC retail price charts show a candle up to a 24-hour high of $ 10,999. StableUSD (USDS) is a fiat-supported stable coin created by Stably, Inc.
Some traders joked that the price record was a "glimpse of the future" of Bitcoin, while others began to wonder what happened that caused the unfortunate order execution.
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StableUSD is currently ranked 419 on the crypto metrics site CoinMarketCap, so the relatively thin order book may have caused a purchase on the market to cover the price of BTC significantly to fill the entire order , clear the order book in the process.
When will BTC revise $ 10,000?
Last time Bitcoin traded over $ 10,000 was over a year ago, March 7, 2018. The rally failed, and Bitcoin was sent back to test the $ 6,000 support that was eventually broken after repeated visits leading market into the area where the crypto license has just ended.
According to analysts, Bitcoin is expected to recover its previous all-time high of $ 20,000 around March 2021 if former crypto-market bearer and bull cycles are something to pass by. The team of analysts bases their prediction on Bitcoin halving, an event that reduces the block reward received by miners for validating a Bitcoin block. The price of Bitcoin is expected to rise in anticipation of the event, which exhausts the available supply of BTC which miners sell on the market.
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From here, $ 10,000 will be a 100% gain, which is not unheard of for the leading market coverage crypto supplement. In fact, the last time Bitcoin broke over $ 5,000 in October 2017, and two months later, BiTC had pushed $ 20,000 due to feverish FOMO of retail investors and media hype.
Considering how ugly sellers were on the entire bear market, a sudden increase to $ 20,000 is extremely unlikely, but alien things have happened in the crypto area.