All crypto enthusiasts know that the past week marked a significant milestone for this year – the return of the bulls in the cryptosphere.
After a long bearish 2018 which took a big chunk of the total market cap and smashed Bitcoin’s price, it was great to have a glimpse of the bulls again.
Bitcoin’s price was pushed above $5,000, and most altcoins went up after it as well.
More crypto experts have declared that this was another sign that we’re out of the crypto winter.
If you recall, Justin Sun, Tron’s founder said this a while ago as well, claiming that BTC hit bottom this year.
The crypto traders are back
Binance‘s CEO Changpeng Zhao (CZ) recently stated that the crypto traders are now back and they are in the highest number ever.
During an interview with CNBC’s Crypto Trader, he said that the number of orders that are placed on his crypto exchange is not at an all-time high.
“The fact that the price can go up so quickly means that there was a lot of money waiting to buy Bitcoin. And they were fearing missing out – the FOMO mentality. So the fact that the price can go up so quickly means all that money was ready, which means that people still have a lot of confidence in this industry,” CZ said as reported by The Daily Hodl.
He continued and explained that “And not only that, the trading volume per transaction, the number of transactions, the number of orders people are submitting, is at an all-time high. We see more orders than January of 2018.”
There have been more triggers that have reportedly led to the recent price rally for BTC and the other assets, and we’ve addressed these in a previous article.
Overall, things seem to be going good these days in the cryptospace in terms of prices and also crypto adoption.