The jump in Bitcoin could be because of an April Fool's joke

The rally that sent Bitcoin to its highest level since November lasted 60 minutes and has probably started as a April Fool's joke.

Even the professional traders who set out to pursue rapid profits in digital currencies have expressed skepticism that the Crypto- the winter is over.

"So many investors are still in ignorance, so this rally will hardly fire to the moon." - says Lewis Fellas, chief investment strategist at Crypto, the Bletchley Park Asset Management hedge fund.

The lack of information why Bitcoin jumped 21% within an hour is worrying and the price has reached $ 5079.

According to one theory, the US Financial Supervision Commission has approved two Crippo ETFs, which has been the catalyst for the surge in price, and, in others, it is covering short positions. Few people say that the reasons are fundamental.

"The bounce is not enough to completely reject the negative effect of winter crypt because we do not have a newly discovered technology or product." - says Julien Auchecorne, a trader at XBTO International. "It seemed all fun, but it shows that hope is alive."

If the digital currency is able to hold more than $ 4,000 by the end of the week, the move is likely to grow to $ 6,000 in the coming months. If the price remains around $ 4500 for a while, Fellas says he will buy Bitcoin this month.

"It seems that we are approaching the moment when the bottoms will be" in history. "

Source: Bloomberg Finance L.P.

Graphs: Used with permission of Bloomberg Finance L.P.

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