{"id":381351,"date":"2019-05-08T20:00:33","date_gmt":"2019-05-08T20:00:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=381351"},"modified":"2019-05-08T15:28:08","modified_gmt":"2019-05-08T15:28:08","slug":"bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/","title":{"rendered":"Bullish: Crypto Community In Shock Over Recent Bitcoin Price Resilience"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Since the start of April, Bitcoin has been on a massively bullish rally, leaving bearish traders and the <a href=\"https:\/\/uniquehot.com\/2019\/04\/25\/bullish-bitcoin-altcoin-carnage-continues\/\">altcoin market in its dust<\/a>. The rally began with a break of resistance at $4,200 that caused the price of the leading crypto by market cap spike $1,000 over an hour. According to research, the entire move was <a href=\"https:\/\/uniquehot.com\/2019\/04\/19\/crypto-analytics-bitcoin-price-surge\/\">orchestrated by a single actor<\/a>, aiming to cause as much price impact as possible.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The bullish momentum has been so strong, not even major negative news in the crypto market has been able to stop Bitcoin\u2019s ascent. Despite some of the worst Tether FUD to hit the space yet, coupled with a <a href=\"https:\/\/uniquehot.com\/2019\/05\/08\/bitcoin-btc-price-strong-buy-binance-hack\/\">hack of what most considered to be the most secure cryptocurrency exchange<\/a>, Bitcoin has <a href=\"https:\/\/uniquehot.com\/2019\/05\/08\/bitcoin-btc-price-strong-buy-binance-hack\/\">repeatedly bounced back<\/a>, shocking the crypto community over its resilience in the face of news that would in the past have sent the price of the first ever cryptocurrency plummeting to new lows.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Collective Crypto Community Bewildered by Bitcoin Bullish Momentum<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Weeks ago, the <a href=\"https:\/\/uniquehot.com\/2019\/04\/26\/tether-turmoil-twist-stolen-reserves-proves-crypto-stablecoin-was-once-backed\/\">New York Attorney General\u2019s office accused Bitfinex<\/a> of hiding an $850 million dollar loss by borrowing from Tether reserves. The news eventually caused Bitfinex to come clean, revealing that Tether was only 74% backed, rather than the 1-to-1 fiat backing the firm behind the stablecoin had previously claimed.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> seems to be shaking off a lot of bad news lately &#8211; If the tether issue and binance hack can not take it down, what will? <a href=\"https:\/\/t.co\/3Sg8ZACNdA\" rel=\"nofollow\">pic.twitter.com\/3Sg8ZACNdA<\/a><\/p>\n<p>&mdash; Cheds (Trading Quotes) (@BigCheds) <a href=\"https:\/\/twitter.com\/BigCheds\/status\/29476353?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 8, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Bitcoin price fell over 7% within minutes following the news breaking, but since recovered to paint new 2019 highs, and inch ever closer to resistance at $6,000.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/04\/24\/sell-in-may-and-go-away-a-look-at-historic-bitcoin-price-performance-in-may\/\">Sell in May and Go Away? A Look At Historic Bitcoin Price Performance in May\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Then again, just yesterday, <a href=\"https:\/\/uniquehot.com\/2019\/05\/08\/bitcoin-btc-price-strong-buy-binance-hack\/\">Binance was hacked to the tune of 7,000 BTC<\/a>. The Changpeng Zhao-led crypto exchange has earned itself a reputation for keeping funds \u201csafu\u201d for crypto investors, and for fighting back against hackers. Binance became known for top-notch security \u2013 <a href=\"https:\/\/uniquehot.com\/2019\/05\/08\/bitcoin-btc-price-strong-buy-binance-hack\/\">security that was breached by hackers<\/a>, causing a strong sell-off of Bitcoin.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Pretty shocked that BTC didn\u2019t dump off a cliff on the Binance news<\/p>\n<p>&mdash; Rob Paone (@crypto_bobby) <a href=\"https:\/\/twitter.com\/crypto_bobby\/status\/01142272?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 8, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">In the months prior to April, the panic-filled crypto market would have fallen to new lows in response to either of the recent negative news events. Bitcoin price did indeed fall, but it <a href=\"https:\/\/uniquehot.com\/2019\/05\/08\/bitcoin-btc-price-strong-buy-binance-hack\/\">quickly regained any lost momentum<\/a> within 24-48 hours.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The recent resilience in the face of some of the worst FUD to hit the crypto industry since its inception, has the crypto community shocked, but <a href=\"https:\/\/uniquehot.com\/2019\/05\/01\/crypto-bitcoin-btc-monthly-candle\/\">cautiously bullish<\/a>.<\/span><\/p>\n<p>https:\/\/twitter.com\/josh_rager\/status\/06212096?s=12<\/p>\n<p class=\"p1\"><span class=\"s1\">Following the break of Bitcoin\u2019s parabola at the close of December 2017, the hype bubble popped and the price of the leading cryptocurrency by market cap fell by 85% to its eventual <a href=\"https:\/\/uniquehot.com\/2019\/05\/03\/is-the-bottom-in-bitcoin-price-btc-has-nearly-doubled-since-bear-market-low\/\">bear market bottom at $3,150<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/05\/08\/analyst-inverse-bitcoin-price-chart-points-to-bitcoin-reaching-at-least-6130\/\">Analyst: Inverse Bitcoin Price Chart Points To Bitcoin Reaching \u201cAt Least\u201d $6,130<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Since then, the <a href=\"https:\/\/uniquehot.com\/2019\/05\/03\/is-the-bottom-in-bitcoin-price-btc-has-nearly-doubled-since-bear-market-low\/\">Bitcoin price has nearly doubled<\/a>, and is set to take on powerful resistance at $6,000 \u2013 resistance that previously played the role of seemingly unbreakable support throughout the first phase of the bear market.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since the start of April, Bitcoin has been on a massively bullish rally, leaving bearish traders and the altcoin market in its dust. The rally began with a break of resistance at $4,200 that caused the price of the leading crypto by market cap spike $1,000 over an hour. According to research, the entire move was orchestrated by a single actor, aiming to cause as much price impact as possible. The bullish momentum has been so strong, not even major negative news in the crypto market has been able to stop Bitcoin\u2019s ascent. Despite some of the worst Tether FUD to hit the space yet, coupled with a hack of what most considered to be the most secure cryptocurrency exchange, Bitcoin has repeatedly bounced back, shocking the crypto community over its resilience in the face of news that would in the past have sent the price of the first ever cryptocurrency plummeting to new lows. Collective Crypto Community Bewildered by Bitcoin Bullish Momentum Weeks ago, the New York Attorney General\u2019s office accused Bitfinex of hiding an $850 million dollar loss by borrowing from Tether reserves. The news eventually caused Bitfinex to come clean, revealing that Tether was only 74% backed, rather than the 1-to-1 fiat backing the firm behind the stablecoin had previously claimed. $BTC #Bitcoin seems to be shaking off a lot of bad news lately &#8211; If the tether issue and binance hack can not take it down, what will? pic.twitter.com\/3Sg8ZACNdA &mdash; Cheds (Trading Quotes) (@BigCheds) May 8, 2019 Bitcoin price fell over 7% within minutes following the news breaking, but since recovered to paint new 2019 highs, and inch ever closer to resistance at $6,000. Related Reading | Sell in May and Go Away? A Look At Historic Bitcoin Price Performance in May\u00a0 Then again, just yesterday, Binance was hacked to the tune of 7,000 BTC. The Changpeng Zhao-led crypto exchange has earned itself a reputation for keeping funds \u201csafu\u201d for crypto investors, and for fighting back against hackers. Binance became known for top-notch security \u2013 security that was breached by hackers, causing a strong sell-off of Bitcoin. Pretty shocked that BTC didn\u2019t dump off a cliff on the Binance news &mdash; Rob Paone (@crypto_bobby) May 8, 2019 In the months prior to April, the panic-filled crypto market would have fallen to new lows in response to either of the recent negative news events. Bitcoin price did indeed fall, but it quickly regained any lost momentum within 24-48 hours. The recent resilience in the face of some of the worst FUD to hit the crypto industry since its inception, has the crypto community shocked, but cautiously bullish. https:\/\/twitter.com\/josh_rager\/status\/06212096?s=12 Following the break of Bitcoin\u2019s parabola at the close of December 2017, the hype bubble popped and the price of the leading cryptocurrency by market cap fell by 85% to its eventual bear market bottom at $3,150. Related Reading | Analyst: Inverse Bitcoin Price Chart Points To Bitcoin Reaching \u201cAt Least\u201d $6,130 Since then, the Bitcoin price has nearly doubled, and is set to take on powerful resistance at $6,000 \u2013 resistance that previously played the role of seemingly unbreakable support throughout the first phase of the bear market.<\/p>\n","protected":false},"author":517,"featured_media":381355,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[10768,428,679,9555,6664,4100],"class_list":["post-381351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-binance","tag-bitcoin","tag-bitcoin-price","tag-community","tag-crypto","tag-tether"],"acf":[],"yoast_head":"\n<title>Bullish: Crypto Community In Shock Over Recent Bitcoin Price Resilience<\/title>\n<meta name=\"description\" content=\"Since the start of April, Bitcoin has been on a massively bullish rally, leaving bearish traders and the altcoin market in its dust. 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The rally began with\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-08T20:00:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-08T15:28:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-crypto-shutterstock_1129660358-860x573.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"860\" \/>\n\t<meta property=\"og:image:height\" content=\"573\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/\"},\"author\":{\"name\":\"Tony \\\"El Toro\\\" Severino\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Bullish: Crypto Community In Shock Over Recent Bitcoin Price Resilience\",\"datePublished\":\"2019-05-08T20:00:33+00:00\",\"dateModified\":\"2019-05-08T15:28:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/\"},\"wordCount\":488,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-crypto-shutterstock_1129660358.jpg?fit=3251%2C2167\",\"keywords\":[\"Binance\",\"bitcoin\",\"bitcoin price\",\"Community\",\"crypto\",\"tether\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/\",\"url\":\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/\",\"name\":\"Bullish: Crypto Community In Shock Over Recent Bitcoin Price Resilience\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-crypto-shutterstock_1129660358.jpg?fit=3251%2C2167\",\"datePublished\":\"2019-05-08T20:00:33+00:00\",\"dateModified\":\"2019-05-08T15:28:08+00:00\",\"description\":\"Since the start of April, Bitcoin has been on a massively bullish rally, leaving bearish traders and the altcoin market in its dust. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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