In recent weeks, this blockade had become more acute, moving mostly between US $ 30,000 and US $ 34,000.
After more than two months of an unusual blockage in its price, bitcoin comes out of lethargy with a rally that reaches 15% at times.
Investors most patient with bitcoin in recent months find reason for hope today. The cryptocurrency had experienced an unprecedented situation. One of the most volatile assets in the market accumulated two months stuck in a narrow range. In recent weeks this blockade had worsened, moving mostly between US $ 30,000 and US $ 34,000.
The market was waiting with expectation in which direction it would end up breaking this blockage. The bears threw themselves to take short positions in anticipation of further falls, and the most optimistic about the evolution of the cryptocurrency encouraged to take advantage of the ‘discounts' offered by its price.
Less than a week ago, bitcoin fell below the $ 30,000 barrier, a decline that raised the risk of further losses. But after returning to around US $ 33,000, its price finally breaks higher today.
The rises at times reach 15%, and their price shoots up to the brink of even US $ 40,000, in the zone of maximums of a month and a half, and one step away from its highest levels since mid-May.
The rises have accelerated the rout of the bears. Analysts highlight that in just 24 hours, US $ 1.2 billion of short positions have been liquidated, a record figure in this section.
Amazon Effect
Many of the investors who were betting on the falls of bitcoin have abruptly withdrawn their positions before the resurgence of optimism that emerges among the followers of bitcoin in the heat of the news about Amazon.
The British newspaper City AM publishes, citing internal sources of the electronic commerce giant, that Amazon is studying accepting the payment with bitcoin. The final decision, the newspaper adds, would be adopted at the end of this year.
Expectations among bitcoin followers skyrocket. If Amazon finally validates bitcoins as a payment method, it would mean a leap to a new dimension in the acceptance of the cryptocurrency.
The billing levels of Amazon, the world's largest electronic commerce company, are light years away from those registered by Tesla, one of the most representative companies among those that had so far shown their willingness to accept bitcoins as a payment method. Last week Elon Musk's electric vehicle company clarified that it would once again accept payment with bitcoins based on the evolution of the environmental impact generated by the largest cryptocurrency.
The combination of the excitement generated by the news about Amazon and the record liquidation of bearish positions causes one of the biggest gains of the year in bitcoin. Due to the lethargy of its price, since the end of May it had only registered two days with increases of more than 10%, on May 24 and June 9, in both cases with advances of 11%.
The revaluation of up to 15% that is noted today spreads the upward pressures to the price of ethereum. The second largest cryptocurrency has reached a 10% rise today, with highs on the verge of US $ 2,400.
