The latest cryptocurrency news show that Bitcoin gains momentum as we speak, after surging by more than 5% overnight and reaching the $5,600 mark. With this, the most dominant cryptocurrency has also managed to set a new 2019 high. The resistance was later broken and BTC is now trading at $5,572 but still looks stable as the market sees green.
The key resistance was broken and Bitcoin initially surged to $5,640 according to the TradingView website. In typical fashion, this has happened during the Asian trading session, allowing Bitcoin to sure by almost 7% and put its next stop at $6,000 if the momentum continues in Europe and the US today.
As the week progresses, it is easy to see that Bitcoin gains momentum but altcoins are following too. In fact, BTC is pulling all of the coins up and breaking through the resistance to form a new 2019 high. The market capitalization is now ramping up to $180 billion again.
Meanwhile, Ethereum (ETH) has been slower to react which is why it moved only a couple of percent and went below the $175 mark again. The news that Bitcoin gains momentum affected many altcoins which is best seen now, as the day progresses.
Speaking of, the altcoin news show that many top coins are all green again as Bitcoin is dominant and leads them higher. Perhaps the most dominating altcoin right now is Cardano (ADA) which has pumped 9% overnight to $0.080. Bitcoin Cash (BCH), on the other hand, is back at $300.
The top twenty also sees Tezos climbing the most at 8% to $1.43 in a historic surge as reported by many best cryptocurrency news sites. Right now, it is certain that there is a huge FOMO and a large daily trading volume across exchanges – mainly triggered by the news that Bitcoin gains momentum as we speak.
The total crypto market capitalization is also very likely to establish new 2019 highs later today. Right now, it sits at $185 billion because of the positive altcoin movement and the $7 billion cash injection, increasing by more than 5% compared to the same level yesterday. The total volume is approaching $50 billion as more gains across the board are very likely to follow today.
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