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Friday, April 12, 2019 11:15:06 AM
From my viewpoint, this recent short-lived BTC rally was caused, at least partly, by Brexit which was supposed to happen on Friday (today). This led to some speculative near-panic buying of crypto in Europe. Apparently, there are several countries, other than the UK, that are considering leaving the European Union. Hence the dumping of the Euro and the massive buying of Bitcoin, et al.
But yesterday the European Union pushed Brexit back to October. Almost immediately the buying pressure was removed and that started an "unwinding" of the rally.
There are other competing opinions about the source of the current rally. For example, Forbes was the first to run a story about a crypto "whale" who put $100M to work buying Bitcoin on four exchanges, to jump-start the rally. A hundred million dollars could be absorbed within a few hours. But the buying continued for two days longer, followed by a stall and then a selloff.
These several explanations certainly could be true. But I think the Brexit situation is the most accurate based on watching the market action starting about midnight when the european financial markets opens. The asian markets open about 4PM my local time.
I believe that Bitcoin and the cryptos in general will respond to noteworthy international events that happen in one or more of the three biggest crypto markets. So we need to watch the world for the next external event that MIGHT trigger another rally.
All in all, this rally was good for a solid 15% gain in my portfolio. I sold profitably into the rally at the start and then put my profit back into the market yesterday, buying more XRP and their nearest competitor XLM.
Good Luck.
Recent XRPUSD News
- Ripple XRP Gains Weight In SEC Lawsuit After CFTC Chair Says 70-80% of Crypto Are Non-Securities • ZyCrypto • 07/11/2024 12:33:50 PM
- XRP Set To Skyrocket 60,000% On Tightest Bollinger Bands Ever: Analyst • NEWSBTC • 07/11/2024 12:30:45 PM
- XRP Price Poised for a Bullish Path Unless This Support Paves Way • NEWSBTC • 07/11/2024 04:18:41 AM
- Price analysis 7/10: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 07/10/2024 05:25:27 PM
- XRP Price Set For Comeback: Breaking This Resistance Could Trigger Recovery • NEWSBTC • 07/10/2024 04:28:41 AM
- Crypto Whales Buy The Dip As $22 Million In XRP Flows Out Of Binance • NEWSBTC • 07/09/2024 09:30:57 PM
- Crypto Analyst Predicts XRP Price Crash Fall To $0.07 Amid Triangle Breakdown • NEWSBTC • 07/09/2024 09:35:04 AM
- XRP Price Finds Relief: Will It Break Past $0.45 Amid Numerous Hurdles? • NEWSBTC • 07/09/2024 04:48:24 AM
- XRP Price: Crypto Analyst Identifies ‘Point Of Control’ That Could See A Repeat Of 2017 • NEWSBTC • 07/08/2024 11:00:17 PM
- Price analysis 7/8: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA • Cointelegraph • 07/08/2024 06:56:24 PM
- XRP Gearing Up For Phenomenal Breakout As Legal Expert Reveals Imminent End Date For SEC-Ripple Case • ZyCrypto • 07/08/2024 05:16:26 PM
- Ripple’s Brad Garlinghouse And Mark Cuban To Discuss Crypto At High-Stakes Biden Roundtable This Week • ZyCrypto • 07/08/2024 04:50:24 PM
- XRP Bulls Face Continued Pressure: Key Challenges Ahead • NEWSBTC • 07/08/2024 04:31:03 AM
- XRP Stages A Comeback: Aims To Reclaim $0.50 After Recent Plunge • NEWSBTC • 07/07/2024 03:00:53 PM
- Pundit Predicts Ripple’s XRP Surge To $200 In Case Of “Full Logarithmic Follow-Through” • ZyCrypto • 07/06/2024 10:23:09 PM
- $26 XRP Price Still in View as Ripple CTO Cites its Practical Utility in the Trillion-Dollar Payments Market • ZyCrypto • 07/05/2024 09:56:50 PM
- Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? • NEWSBTC • 07/05/2024 09:30:16 PM
- Prominent Hedge Fund Exec Blasts Cardano And XRP As “Cult Meme Coins” • ZyCrypto • 07/05/2024 08:55:31 PM
- Crypto Market Sentiment Dives, PancakeSwap Launches zkSync Reward • IH Market News • 07/05/2024 06:33:10 PM
- Price analysis 7/5: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 07/05/2024 06:00:43 PM
- XRP Holds Bullish 2014-2017 Pattern Unless This Happens: Analyst • NEWSBTC • 07/05/2024 05:00:17 PM
- XRP Lawsuit: SEC Sticks to $2 Billion Fine on Ripple As Pressure On XRP Soars — Is This Your Buy Signal? • ZyCrypto • 07/05/2024 01:47:03 PM
- Why is XRP price down today? • Cointelegraph • 07/05/2024 08:34:40 AM
- Bitcoin Price Crashes Below $54,000: Top-5 Reasons • NEWSBTC • 07/05/2024 08:00:18 AM
- XRP Price Crashes 15%, Slips Under $0.40: Difficult Recovery Ahead • NEWSBTC • 07/05/2024 03:58:37 AM
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