The cryptocurrency community is now happier than two or three months ago when Bitcoin was trading at around $3,934. For the past one week the Bitcoin price has managed to remain trading above the $8,000 price mark. And since this week started, the BTC price has never plummeted below the $9000 support level.
At the time of writing, Bitcoin is in the green changing hands at almost $9,359, with hopes of reaching the $9500 resistance level any moment now. Its market cap is currently at $165.028 billion and daily trading volume is at $16.093 billion. BTC continues to dominate the cryptocurrency market with 57.3%, according to the coinmarketcap data.
Meanwhile the entire market cap of more than 2255 digital currencies from over 18940 markets globally, is sitting at $287.873 billion. The 7-day high and 24-hour highs is $9,385. The 7-day low is $8,137.88 and that of the 24-hour is at $9,093.84. All these figures are showing the possibility of prices skyrocketing above the $10,000 as previously predicted by senior cryptocurrency market analysts – the next bull run seems to be approaching. Bulls are optimistic to see another fresh high for 2019.
In the intervening time, increasing hash power to turn the BTC network sturdier than ever before, growing the amount of transactions to demonstrate that utility is significantly intensifying, and more than a 1000k BTC addresses vigorously transacting as proof of rising adoption — all available evidence points to sturdy nitty-gritties approaching a new bull run.
Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), EOS, Bitcoin SV (BSV), Tether and Stellar, are all in red and seem not to be doing well in the market today. These coins are among the world’s top 10 cryptocurrencies by market capitalization, but their performance is appalling. Among the top 10, it is only the flagship digital asset, Ethereum (ETH) and Binance Coin (BNB) that are trading in green. The BNB price is standing at $36.37 (2.55%). Ether and Ripple are trading at $269.02 (-0.41%) and $0.424821 (-1.4%) respectively.