Bitcoin surges 20% as it breaks through an “$80 million sell wall” – is the bear market over?

Bitcoin just recorded a massive surge from $4,200 to nearly $4,800 within minutes – a 20 percent gain in a short time frame. Most altcoins followed suit.

This is the highest price for Bitcoin recorded in almost six months, and finally a breakthrough from the trading band of of $3,600 – $4,200 where it has been largely sitting since December 2018.

Is the crypto bear market over?

According to analyst Joseph Young, the rally was technical as it broke through an “$80 million sell wall”:

However, it wouldn’t be the first time a technical rally turns into a real one. Let’s see what happens over the coming hours/days.