Is cryptocurrency dead? What is the future of cryptocurrencies? Will cryptocurrency market recover? Digital asset investors have been asking these questions since the market-wide bear wave that cost the price of cryptocurrencies to lose between 70% – 90% of their total value started. Since the beginning of the year when the price of Bitcoin became relatively stable, the answers to these questions started becoming clear. Is cryptocurrency dead? No, it’s not. Cryptocurrencies are here to stay. Will the cryptocurrency market recover? Yes, it will and the recovery has already started? For the past three months, the future of cryptocurrencies have never been clearer than it was this morning when the price of cryptocurrencies started surging higher against the USD. This is the headline of the cryptocurrency latest news today.
Cryptocurrency Latest News Today: Cryptocurrency Trading Volume And Market Capitalization Spike
This spike in the total market capitalization and trading volume is what the cryptocurrency market has been waiting for since we started expecting the next crypto bull run. It has brought hope to investors like nothing anyone has seen in recent time. It all started with a surge in the price of the flagship cryptocurrency, Bitcoin. As the price of Bitcoin spiked against the USD, others followed quickly. The price of Bitcoin was able to cross many significant resistance levels all the way to $5000 level. Bitcoin hasn’t sold as high as $5000 since after the Bitcoin Cash hard fork war when it fell from the $6000 level all the way to the $3000 level.
A while ago, in one of our Bitcoin price predictions 2019, a cryptocurrency analyst said that when the price of Bitcoin crosses the 200 EMA which it has been stuck in for a long time, a market-wide bull run would start and the price of cryptocurrencies will start to recover against the USD. Since Bitcoin crossed this level this morning, it’s safe to say that the cryptocurrency winter is over and a new cycle has started. When the price of Bitcoin hit $5,000 this morning, the total market capitalization spiked against the USD. At the same time, the cryptocurrency trading volume entered $50 Billion for the first time in a long time.
Bitcoin Bull Run: Bitcoin Price Prediction 2019: How Much Is Bitcoin Today
Bitcoin has been recording double digit gains since morning. At the time of writing, it was trading at $4,769.07. This means that it is up by 15.35% against the USD. The trading volume over a 24 hour period is $16,175,539,228 and the market capitalization is $84,033,575,292 per CoinMarketcap.com. If the upward momentum continues, the price of Bitcoin may hit $5,000 again today and may be able to maintain this level as the new support.
Other cryptocurrencies have also been recovering significantly against the USD. Altcoins have been doing extremely well. Some have even outperformed Bitcoin in the Bitcoin bull rally. This shows that the cryptocurrency market is not dead and there is hope for a more sustainable recovery long-term. The future of cryptocurrency is bright.
What do you think about the future of cryptocurrency? Is the future of cryptocurrencies bright or is cryptocurrency dead? Share your thoughts about the Bitcoin bull run below.