At 12:00 pm on April 12, the Bitcoin price rose abruptly by nearly € 1,000 or 17%. A rally, which is continued so far. Much of the other cryptocurrencies also benefit from this awakening of the bulls. What can be the reasons for the price increase?
Trader and Hodler within the crypto-ecosystem arrived on April 12, as if the sun were shining for the first time after a months-long rainy season: the price did not just rise, but jumped nearly 1,000 euros within an hour. This jump was not purely temporary, so the price rose currently up to 6,700 euros.
Possible reasons for the increase
What can this awakening of the crypto market and the Bitcoin course be? Various possible reasons are being discussed in the community: Georges Soros and Rockefeller's renewed interest in cryptocurrencies, as well as recent statements by Islamic clergy regarding Bitcoin's compliance with the Sharia. Islamic investors would be more motivated to make an investment that is halal according to their religious authorities. Others also stress that more and more Wall Street people and businesses are interested in crypto. Former Goldman Sachs executives or the CEO of Fundstrat Thomas Lee are not only investing in Bitcoin, but are also openly extremely positive about the crypto-economy.
In addition, specific reasons can be given for different cryptocurrencies. The rise of EOS is certainly related to the upcoming Airdrop, Litecoin came back into the limelight through the cooperation with TenX and Ripple can also benefit from the cooperation with Santander Bank. In addition, the "price forecasts" of many investors such as Tim Draper and others that have been gathering in the last few days have raised hopes of a "to the moon!" Again.
As so often, various reasons can be cited, certainly the interest of major investors or Wall Street-related companies is a signal that has a positive effect on the market.
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