Bitcoin (BTC) Price Continues To Hit Highs For 2019 On Positive Sentiment

Bitcoin - BTC
During the 2017 bullish run, the markets of Bitcoin (BTC) and Altcoins...
Stay Ahead of the
Stock Market Game!
Subscribe to Small Cap
Exclusive for more

trending

Voce Capital is Buying Cutera Inc. (NASDAQ:CUTR) Shares
Cpmg Inc. Picked Up Reata Pharmaceuticals Inc. (NASD...
Ronin Capital, Llc is Buying Peregrine Pharmaceutica...

During the 2017 bullish run, the markets of Bitcoin (BTC) and Altcoins were inversely correlated where one could surge at the expense of the other. Traders and investors used to switch between the two assets and considering there are so many stablecoins nowadays one could assume that the correlation diminished but it has grown stronger than ever.

BTC Up 3% Today

Bitcoin Price has been on the upward trend in recent weeks and it was up 3% on the day during the Asian trading this morning setting a new six month and 2019 high of $6,290. Since breaking the $6,000 barrier yesterday BTC has not dropped and its volume has increased to around $18 billion as it continues to push higher.

Since last Friday Bitcoin has been on the rise gaining 12% to outperform almost all competitors. Following this market dominance, this is the highest BTC has been in the past 17 months at 58.3%.

[thrive_leads id=’8276′]

Altcoins Continue To Take A Hammering

The 66% surge of bitcoin since the beginning of 2019 has been at the expense of Altcoins which are receiving a beating today. Although Ethereum is still flat its market share has nonetheless dropped below 10%. XRP has been on the fall but Ripple has been increasing its supply and currently it is below $0.30. Most of the major cryptocurrencies have been taking a beating and have dropped between 3% and 8% on the day.

In a tweet Bitcoin trader ‘SalsaTekila’ predicted that Bitcoin price will continue with the upward trend to over $6,400 before experiencing any kind of drop. This was 2018’s most traded price so there is a strong possibility as it is only $150 away from the present prices.

Usually, weekends are sluggish when it comes to crypto trading activity and thus if Bitcoin price remains above $6,000 then more gains should be expected. The crypto market currently looks like the Q3 2017 when BTC surged at altcoins’ expense.

Stay in the lopp :

Covista Communications CVST Stock Price soare...

Covista Communications, Inc. CVST stock price is up 269% today & volume was 1,280,00 shares when their average is normally 824!

<!--
Guess Who Picked Americas Carmart Inc. (NASDA...
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Americas Carmart Inc. (NASDAQ:CRMT) reported that Magnolia Capital Fund, Lp
Impac Mortgage Holdings Inc. (NYSEMKT:IMH) is...
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Impac Mortgage Holdings Inc. (NYSEMKT:IMH) reported that Talkot Capital, Llc.

related post

Skip to content