Bitcoin Reaches Its Highest Price in Almost 8 Months and is Getting Closer to $7,000
Bitcoin started a bull trend a few months ago in March when it started to move close to $4,000. After it, in April it crossed $5,000 and now May is becoming closer to $7,000.
Bitcoin Close To $7,000
The most popular digital asset was able to surpass $6,990 in Coinbase Pro a few hours ago. This is one of the highest levels since September 2018, when the digital asset was entering its last months in a bear trend.
In just five weeks, Bitcoin's price was able to move more than 70%. The 100-day MA followed very closely this rally. Indeed, this 100-day MA moved above the 200-day MA, which shows a very important crossover.
The same situation happened back in July 2015. This was an indicator that showed that the bear market was over. In 2015, when this crossover happened, the market entered a bull trend that ended with Bitcoin reaching $20,000 two and a half years later.
Now Bitcoin is being traded close to $6,955 according to CoinMarketCap. It also has a market capitalization of $123 billion. In just 24 hours, the whole crypto market increased $10 billion its total market cap.
On May 11, the crypto market has also been very positive for altcoins. Indeed, most of them are operating positively. Among the top 10, Litecoin (LTC) is the best performer increasing 15.82% in price, much more than any other digital asset. Other digital assets include Cardano, growing 14.5%, Bitcoin Cash (BCH) expanding 12.56% and EOS growing 11.36%.
The question is whether there will be a pause for Bitcoin in the coming days or if it will keep growing until it will reach a large resistance level.
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Bitcoin’s price is $45,679.64 BTC/USD exchange rate today. The real-time BTC market cap of $850.6 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $25.07 Billion and live coin value change of BTC -6.08 in the last 24 hours.
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