The $43,000 Bitcoin outburst has pushed the price to a multi-month high, reigniting the bull market traders have been waiting for. The price rose to a multi-month high of $43236 on August 7. This has freed bitcoin from the trading range it has been stuck in since May. The reason why the price of bitcoin has gone up so much is because of large purchases below $40,000 and bitcoins going off the exchange after the purchase, going to private wallets to hold. Big holders are holding bitcoins And this is increasing the outflow of bitcoins on the exchanges which is a strong signal for the price to go up. Today bitcoin candle started at $42836 and is currently trending above $43081.