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Cumberland is a leader in virtual assets globally. They help companies and individuals work their way around crypto space and help the crypto space grow more stable and stronger. Cumberland is part of the DRW and operates on OTC desk since 2014. Recently Cumberland noticed that Bitcoin prices are going up at a drastic rate.
The spike in price was noticed on April 1st, 2019. When the Cumberland was sure that the spike in prices was stable and here to stay, they tweeted about it on Twitter. The tweet was made three days after the price spike.
Cumberland further looked into what was causing the spike in price and discovered that thirteen (13) tradings were being held by actual buyers that were worth four point nine million dollars ($4.9 million). The Tweet made by Cumberland said that these tradings were being made within an hour.
Desk Update: The post-trade analysis of Monday evening’s price action revealed a series of large bids (>1,000 BTC per order) within a 1 hour span, which appear to be actual buyers vs. forced liquidations. pic.twitter.com/UiuHLoCbPr
— Cumberland (@CumberlandSays) April 4, 2019
Bobby Cho is the Head of Trading for Cumberland, and he also tweeted on Twitter to provide more clarification on the matter at hand. In the start of this week, Cumberland has tweeted about Bitcoin saying that Bitcoin has shown an almost ten percent increase in tradings for the first time over the course of eight weeks. They also said that they are awaiting the next even number and another strong resistance point.
The crypto space has also noticed the upward trend in trading prices of Bitcoin and call this the first time Bitcoin’s market has experienced increased market momentum this year.
Bitcoin has exceeded the four thousand five hundred dollars ($4,500) level and hit the five thousand dollars ($5,000) level on 3rd April 2019. Right now Bitcoin is trading at four thousand nine hundred and sixty-four dollars ($4,964) mark.
