Bitcoin Hits 15-Months High, $10,000 BTC/USD Exchange Rate Value is Next Stop
- Bitcoin climbs to a new 2019 high at $9,800, Market cap goes above $170 billion
- BTC remains in a higher uptrend and “there is no reason to fight it”
- Bitcoin is back to making moves and that’s right before the weekend. Today, Bitcoin climbed to yet another highest level of 2019 at $9,800 on Bitstamp. This level has us surging to 15 months high as $9,800 was last hit on March 5th, 2018.
The leading cryptocurrency is enjoying a rally since April that took us from $4,000 to above $5,500. The next month in May, this rally continued with an even bigger surge that had us breaking through $6k, $7k, $8k and even briefly $9,000.
Though experts expected Bitcoin to retrace, the leading cryptocurrency didn’t pay heed to anything that’s been going in the market and kept on going its own way, that is the highway.
June has us push upward and shot past $9,000 with a strong move that May didn’t manage to realize. Now, today, we have moved even closer to $10,000 and once we cross this level, we all know what’s gonna happen, FOMO to the top.
Currently, BTC/USD is trading at $9,787 with 24 hours greens of 6.04 percent while managing the daily trading volume of $1.17 billion, per Messari’s Real 10, volume and registering the market cap of $172 billion.
As Bitcoin makes a new 2019 record, altcoins are also feeling the greens. Among the top cryptocurrencies, Monero and Ethereum are the winners with more than 6 percent gains. Meanwhile, Chainlink is the biggest loser with over 10 percent.
This has the total market cap reaching above $300 billion.
Bitcoin Remains in a Powerful Uptrend
Analysts are seeing Bitcoin touching $10,000 as trader and market analyst Benjamin Blunts says, “10k next stop, maybe 9950 if people frontrun it.”
— MOONOVERLORD (@MoonOverlord) June 20, 2019
According to analyst, Magic Poop Cannon, there is a clear path to the $13,500 level, with a few barriers in the way. That’s why we need to assess the market’s reaction to each one of these barriers and react accordingly as he explains,
“On the 4 hour chart (not pictured) BTC could be forming a head and shoulders or a bull flag. It isn't immediately clear yet.”
From price pattern standpoint, Magic says, the move looks similar to what we saw in early May before the explosive move higher. The previous rally was about 83 percent and if we see a continuation higher, that would be a mirror image of the explosive move we had in May that puts the price target at $13,500.
“For now, BTC remains in a powerful uptrend, consistently printing higher highs and higher lows. Until that trend is broken, there is no reason to fight it.”
Bitcoin’s price is $56,963.78 BTC/USD exchange rate today. The real-time BTC market cap of $1.06 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $23.68 Billion and live coin value change of BTC 5.12 in the last 24 hours.