The post Top Reasons Why Bitcoin Gained Today, May 19 appeared first on Coinpedia Fintech News
The historical supply shock hitting the Bitcoin market has signaled to an ultimate parabolic rally in the near future.
The Bitcoin market stands to significantly benefit from the improved trade-war negotiations.
Bitcoin (BTC) price experienced significant volatility in the past two days after breaking out of a symmetrical triangular pattern on Sunday. The flagship coin established a support level around $102,229 on Monday, and rebounded over 3 percent to trade above $105,370 on Monday, May 19, during the late North American trading session.
The wider altcoin market, led by Ethereum (ETH), rallied in tandem, thus resulting in nearly $600 million crypto-leveraged liquidations during the last 24 hours.
Major Forces Behind Today’s Bitcoin Rebound
JPMorgan’s Bitcoin Entry
On Monday, JPMorgan’s CEO Jamie Dimon said that the bank will allow its clients to buy Bitcoin but w
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