A Record Volume Of Transactions Was Recorded On Bitcoin Network
On Wednesday night, an outbreak of Bitcoin value growth was recorded on a number of digital asset exchanges. Therefore, the first cryptocurrency surpassed the level of $ 8,000.
At the press time, BTC is trading at $ 7459 (data from CoinMarketCap), which is equivalent to a daily growth of 1.76%. Most cryptocurrencies from the TOP 10 of capitalization ratings are also in a positive movement.
Note, that the growth outbreak was recorded against the backdrop of a record volume of bitcoin transactions - in an hour the figure reached $ 8.9 billion. The result, was an absolute maximum for the entire history of the cryptocurrency as users noted.
Some commentators believe that the new record is a result of growing volumes of cold wallets on digital asset exchanges.
The outbreak of growth in the Bitcoin network was commented on by a well-known critic of Bitcoin, CEO of Euro Pacific Capital Peter Schiff. In his opinion, the activity of the cryptocurrency rate was the result of the work of manipulators. The specialist noted that there was no growth wave following the pump. The latter, according to the CEO of Euro Pacific Capital, indicates a lack of interest in cryptocurrency from buyers. The result of the provision of BTC, in his opinion, could be a further decrease in the value of the asset.
Bitcoin pump & dumpers are losing their mojo. They managed to pump the price by $550 in one minute, a 7.5% spike. Yet the dump reversed the entire pump with an 8% drop in just 7.5 hours. If #Bitcoin pumpers can no longer sucker in new buyers the game is over. Look out below!
— Peter Schiff (@PeterSchiff) December 4, 2019
Meanwhile, a popular cryptocurrency analyst, a blog under the nickname PlanB, surveyed his readers. The specialist asked users who are negative about the further movement of the bitcoin exchange rate, why, in their opinion, BTC will lose in price. Most respondents said that the main reason for the decline in the value of cryptocurrency will be market manipulations and problems with futures on digital assets.
Recall that earlier PlanB found out that about 25% of all Bitcoin transactions in 2019 may be related to a suspicious project.