"Bitcoins break over $ 4,200 this morning was critical, as the market had observed this level for a while," Mati Greenspan, senior market analyst at the eToro trading platform, told CNBC. "No doubt some orders and stopping losses were grouped right above." This means that certain algorithmic trades had kicked in after it reached this higher level.
It comes after a massive decline for the crypto exchange market last year. Bitcoin fell over 76 percent in 2018, and remains well below a full-time high near $ 20,000, it was listed in December 2017.
"Bitcoin has been trading range bound for a while now and shaking off some of the negative the feeling that it was incurred in 201
"This trigger was through volume-driven pricing that ran the price and triggered algos on a breakout."