Like this jump to $47k has something to do with halving in April. Dont get tricked by that. Such unexplained price pumps promise nothing good. Like the price jumped, it can suddenly drop. We might even observe an artificial price pump before halving, to drop it soon after. We already have same exactly month ago, jump to $48k, and a drop to $39 in 10 days. Anyway, dont blindly run and buy, think several times first.
But what makes this jump suspicious and not the previous ones?
We jumped in October 8k out of the blue, another 6k on the first of December, and this by considering only small under 72 hours price ranges, so what makes this thing suspicious and not a rebound from a sell-off and profit taking and not at the same time consider every single one of the jumps from $25k till now just as misleading?
As I am typing the price of bitcoin is $47,500,and it is not upto 24hrs that this pump in price started from $43k. The halving is in April and if this pump continues this way, it means that will be in between 50k-60k price range.
If it would keep the same pace, which I certainly doubt it would go well beyond that, even if we speak weekly gains and not daily.
It's up 10% and since will be a compound growth we would be touching 100k by late March, 7 weeks of continuous 10% is almost double in returns at the end, missing a few %.
That aside, over 50k is perfectly doable even this weekend, it's like everyone is waiting for it and it will take only one push to trigger it.