"Bitcoins crime over $ 4,200 this morning was critical, as the market had looked at that level for a while," Mati Greenspan, market analyst at eToro, CNBC's trading platform, told. "No doubt, some order intake and stop losses were grouped just above." This means that some algorithmic business had kicked in after it reached this higher level.
It comes after a massive decline in the cryptocurrency market last year. Bitcoin fell over 76 percent in 2018 and is still well below a full-time close to $ 20,000 as it was listed in December 2017.
"Bitcoin has been trading for a while now and shaken off some of the negative feelings it has created in 201
"This trigger was through volume-led price action that drove the price and triggered algos in a break."