Bitcoin gains $1.5K in under an hour as BTC price erases days of downtrend
Bitcoin (BTC) put in an early end-of-year flourish on Dec. 31 as an upward boost saw BTC/USD retake $48,000.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly gaining over $1,500 in a single hour on Friday.
A refreshing counterpoint to several days of downtrend, the move gave a taste of what could happen in a crypto market where liquidity is thinner than normal over the holiday period.
Futures + option expiry
December's Bitcoin options expiry event, worth almost $6 billion, could have provided the snap relief, traders argued, this traditionally pressuring BTC price action beforehand.
A survey by the @Bitcoin Twitter account earlier in December showed that the majority of participants expected BTC/USD to be above $55,000
Read more on cointelegraph.com
