Bitcoin Surge Continues, Altcoins on Fire as Crypto Bull Run Enters Day 2 – Why Bitcoin is up today

Yesterday, the long-awaited cryptocurrency market recovery began with an epic bitcoin surge and an overall bull run in the cryptocurrency market. As Smartereum reported, Bitcoin (BTC) price skyrocketed by about 15 percent in less than an hour while other major cryptocurrencies like Litecoin (LTC), Binance Coin (BNB), EOS (EOS) Cardano (ADA), and Dogecoin to USD also recorded double-digit gains. On the back of a damning article by Gizmodo bitcoin is up today proving it is more than a bitcoin April fool. We look at

Today the bitcoin surge has continued but more noticeably, other top cryptocurrencies are making up grounds against bitcoin after yesterday’s bitcoin price spike. Bitcoin Cash (BCH) is leading the top coins with about 40 percent gain from yesterday while its fork Bitcoin SV follows with 22 percent increase in less than 24 hours. Many altcoins including Litecoin (LTC), Cardano (ADA), EOS (EOS) and NEM posted double-digit gains pushing Bitcoin dominance back to around 50.7 percent of the entire cryptocurrency market.

Bitcoin Surge Continues in Day 2 of Cryptocurrency Bull Cycle

Bitcoin (BTC) Price Today

1 bitcoin to USD is currently trading at $4,961 at the time of writing. According to live bitcoin chart from coinmarketcap, BTC increased by 5% in the last 24 hours on top of 15% increase it recorded yesterday. It briefly traded at a high of $5,040 as its 24-hour trading volume doubled to reach $21.3 billion.

The bitcoin surge that led the market yesterday has slowed allowing altcoins like bitcoin cash to lead the market. Consequently, the bitcoin dominance which grew to a yearly high of 51.8 has now dropped to 50.7 percent.

Bitcoin Cash (BCH) Gains 40 Percent as Top Altcoins Surge

The cryptocurrency market gained massively today, thanks to Bitcoin Cash, Litecoin, Bitcoin SV and other altcoins that recorded massive gains in the last 24 hours. This added to the equally impressive gains made yesterday took the total crypto market capitalization to over $172 billion.

Bitcoin Cash (BCH) gained a whopping 40 percent to reach a price of $252.66 to the USD as at press time.

Litecoin Price Prediction 2019

The next best performing coin in the top-20 category is Litecoin (LTC) having gained over 20% in the last 24 hours to pass the $80 mark. LTC is trading at about $82 at the time of writing.

Litecoin price prediction 2019 suggest that LTC will be $650 in May. According to a Litecoin price prediction shared on Twitter by Jason A. Williams the co-founder of Morgan Creek Digital, Litecoin was expected to rise by more than 150 percent monthly to reach $650 by next month.

Ethereum [ETH] and other Top Altcoins Add to Yesterday’s Gains

Ethereum gained just under 10 percent to scale the $160 mark. It is currently trading at $167 to the USD with $200 looking within reach as the crypto bull run continues.

Cardano has added another 14 percent gain today and is currently trading at 0.0899 to the USD with a total market cap of $2.33 billion.

EOS is valued at $5.12 to the USD posting almost 13 percent gain from yesterday with a total market cap of $4.94 billion.

Ripple XRP has slowed to a 5% gain from yesterday, now trading for $0.35 with a market cap of almost $14.6 billion. Ripple could still react to the news that Switzerland stock exchange SIX has added a first-of-its-kind XRP-based Exchange Traded Product.

Interestingly 1 Dogecoin to USD has increased by almost 30 percent in the last 24 hours.

Why Bitcoin is up today

Despite the opinion of many bitcoin critics who raised the question “is bitcoin dead” during the long cryptocurrency crash, the bitcoin bull run that started yesterday is sure to change the approach to bitcoin price prediction 2019.

The reason for the sudden rise yesterday is unclear—some suggest a bitcoin April fool that said SEC approves a bitcoin ETF. However, the fact that the bitcoin surge continued today proves stronger reasons, one of which the confidence traders, analysts and blockchain investors have to in bitcoin and the entire crypto market.

Gizmodo Bitcoin Article Critical Of the latest Crypt Bull Run

According to Gizmodo, bitcoin (BTC) price surged by 15 percent yesterday because cryptocurrency community has not learned from the crash of 2017. Cryptocurrency analysts agreed that the 2017 bitcoin bull run was driven in parts by speculations and FOMO—fear of missing out. This FOMO seems to have also influenced the latest bitcoin surge which coincided with the April fool’s period and speculations about sec bitcoin ETF approval.

Share your Thoughts About the latest Bitcoin Surge

In the light of the latest bitcoin bull circle, what’s your take on topics like “is bitcoin dead?”, “will bitcoin recover?”, “why bitcoin is up today”, “how long will the bitcoin bull run last?”

Riccardo Lopp is a writer specializing in Crypto, ethereum and whole blockchain ecosystem. His background is in economics and statistics.


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