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The crypto market has been surging this week and Bitcoin price continues to pull up, breaking through resistance to establish a new 2019 high. Its market capitalization is increasing, reaching around $180 billion.
Bitcoin Breaks Resistance
According to TradingView, Bitcoin surprised many in the past week after breaking resistance and surging to $5,640. In the last trading session, Bitcoin price gained 4%, surging from $5,480 to $5,640. A crypto asset trader who is known as “Crypto Rand” has indicated that Bitcoin is likely to increase to $6,000 based on the recent performance in April. In April, crypto traders were optimistic about the price of Bitcoin following its rally in the first week of the month when it surged 20% against the dollar.
Most traders were skeptical about the momentum of the crypto market and if it could be sustained in the short term considering that both Bitcoin price and other cryptocurrencies in the markets had large gains at the start of the month.
Other Cryptos Follow
Although Bitcoin price is headed for new 2019 highs, Ethereum has, on the other hand, experienced a slower momentum, gaining minimally below $175. But with BTC climbing, ETH’s momentum is also likely to grow, and Ethereum will benefit from the current healthy momentum that Bitcoin is enjoying.
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Altcoins are also enjoying the green as Bitcoin leads the way to new highs. Currently, Cardano is the top gaining crypto in the altcoins section, and it gained 9% on the day closing at $0.080. Elsewhere there is no significant movement except for Bitcoin Cash, which moved to $300.
There is movement of the top twenty as Tezos has climbed 8% to $1.43, while Bitcoin SV and NEO both moved 4%. Much of the rest of crypto is making marginal gains. The gains are likely to continue provided Bitcoin price maintains above $5,500.
A huge fomo-driven pump has taken DGD up 28%. Binance has taken 70% of the $30 million daily volume as the gold-based token surges to $35.
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