The machines are here!

Look out skynet, the crypto algos are taking over first!

Yesterday when bitcoin did this, no one really knew why:

(Source:  https://www.bloomberg.com/news/articles/2019-04-02/algo-hedge-funds-join-cast-of-suspects-seen-behind-bitcoin-surge )

Now we are hearing that it was most likely machine responsible for the sudden surge.

Once a few key technical criteria were met, they were set in buy mode.

And buy they did...

The price of bitcoin jumped roughly $1,00o in minutes.

This was due to the machines all seeing the same buy patterns emerge and hitting the buy button at a time where there weren't many sellers to slow things down.

The result?

A massive spike.

For more about what is is going on with algo traders in crypto, read this:

 https://www.bloomberg.com/news/articles/2019-04-02/algo-hedge-funds-join-cast-of-suspects-seen-behind-bitcoin-surge 

Hopefully you will be able to sleep afterwards and won't be too worried about skynet taking over!