Bitcoin Soars Into the $11,100 Price Level for the First Time in Over A Year

  • Bitcoin has passed $11,000 price level.
  • Experts believe that the token will not continue to pick up much momentum after the boost is over.

Everyone in the cryptocurrency market remembers the massive drop that Bitcoin went through at the end of 2017. The cryptocurrency continued to plummet throughout the year, but 2019 has proven to be a much better year for the market. However, today, Bitcoin reached a momentous price level, passing $11,116.69, the first time being over $11K BTC/USD since March 2018.

At the time of writing, Bitcoin's price is rising by over 11% in the last 24 hours collectively. With this jump, Bitcoin has eliminated 40% of the sell off seen through December 2018. Hopefully, as the cryptocurrency picks up momentum, this second quarter will end with increases being in the triple digits.

The token is believed to continue increasing over the next year, as the Bitcoin halving is coming in May next year. The halving is meant to reduce the risk of inflation, cutting back on the reward that miners receive for their work on the blockchain. This halving happens every four years or so, and results in a deficit in the supply. However, if the Libra cryptocurrency by Facebook helps to increase the appeal of Bitcoin and the adoption rate, it is possible that there will be a much bigger supply deficit.

Facebook released the whitepaper for their new asset on Tuesday, even though Libra is not planned to be launched until the first half of next year. However, it received mixed reviews.

Even though the potential of Bitcoin in the future seems positive, it is a possibility that the token will experience a short-term pullback. Even though the token boosted substantially, it is common for cryptocurrencies to relax a little bit after these kinds of gains are recorded.

Bitcoin’s price is $57,148.99 BTC/USD exchange rate today. The real-time BTC market cap of $1.07 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $26.34 Billion and live coin value change of BTC -0.32 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$57,148.9852 change ~ -0.32%

Coin Market Cap

$1.07 Trillion

24 Hour Volume

$26.34 Billion

24 Hour VWAP

$56.54 K

24 Hour Change


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