Bitcoin Price Surges 10% to $5.6K as Stocks React to €750B EU Stimulus

Bitcoin (BTC) made unexpected gains on March 19 as another day of coronavirus misery suddenly turned positive for investors.

Cryptocurrency market daily overview. Source: Coin360

BTC price reaches six-day high

Data from Coin360 and Cointelegraph Markets showed BTC/USD moved up 11% in the 24 hours to press time on Thursday. 

Current levels of $5,630 mark Bitcoin’s highest since March 13, when the cryptocurrency fell to lows not seen since 2018. Since then, it has recovered by over 50%.

Bitcoin 1-day price chart. Source: Coin360

Nonetheless, analysts were not expecting major upward momentum to build. As Cointelegraph reported, Wednesday saw fresh warnings from veteran trader Tone Vays, who said that he was prepared for Bitcoin to dip as low as $2,000 by May. 

For Cointelegraph Markets analyst filbfilb, the short term was likely to see ranging between $4,000 and $6,000.

“We want to see clear rejection below 4.8k and focus trade above. It’s going to be real choppy for a while,” he…