Bitcoin (BTC) Price Shoots Up to $12,000, Top 20 Cryptos Turn Green
- Bitcoin jumps above $12,010 with almost 5% gains but drop not out of the picture yet
- Altcoins runs as well but alt season isn’t here, one more big drop is possible
In a matter of minutes, Bitcoin price shot up $400. From $11,332, the lowest point of today’s for now, we jumped as high as $12,010.
We started this month below $11,000 after seeing $13,900 on June 26th. Soon after, on July 2nd, we dropped down to $9,600 but since then have managed to stay above $10,000.
Last week wasn’t an active one and then during the second half of the week, we struggled to get above $11,500
We are now in the second week of July and today, we jumped above $12,000.
At the time of writing, the leading cryptocurrency has been trading between the range of $11,000 and $12,000 with 24 hours gains of almost 5 percent. Meanwhile, the daily trading volume is still low at $1.4 billion, as per Messari’s real 10, 24 hours volume.
This spike could be the CME gaps being filled.
“Dear BTC CME gap traders, thank you for your donations. Please, do keep on executing a strategy with no edge,” said economist and trader Alex Kruger on this jump in BTC price.
Analyst The Cryptomist says we could see the $15k region if we test RSI resistance,
“We are finally testing resistance from my pennant last week! Notice how much room there is on RSI pennant to still run upon.”
and theres that breakout, happy days 🍻 pic.twitter.com/VV9myhb5bF
— 🍄🌲Benjamin Blunts🌲🍄 (@SmartContracter) July 8, 2019
But market analyst and trader Benjamin Blunts has his eyes on double top. In his previous post, he called out for a rise above $13,000 only to drop down to below $9k.
Altcoins Goes Green as well
In response to this altcoins surged as well, with top 20 coins in the green.
Among the top cryptos, Ethereum is up the highest by over 5% at $308 while XRP is up the least by 0.09% at $0.0398.
XMax is the biggest gainer with 50% gains in the past 24 hours while Walton chain is down by 13%, among the top 100 cryptocurrencies.
The total market cap has risen to $336.7 billion from $320 yesterday. BTC dominance is still above 60 percent at 62.9%.
However, alt season is not here yet. The Cryptomist says, we could probably see one more “big drop” until we have both fib and candle supports.