While Cryptocurrency Winter Ends, Cryptocurrency Market Gains $18 Billion and Bitcoin (BTC) Comes to $5,000

The Bitcoin price prediction 2019 has never been this bullish since 2017. All the positive fundamentals in the industry seem to have rippled into a cryptocurrency market pump that saw an extra $18 billion added to the cryptocurrency market within less than an hour.

According to the Bitcoin price forecast on NewsBtc, the price of Bitcoin moved higher above the strong resistance at $4200, smashed every other resistance and hit the $5,000 mark. This is the highest price of Bitcoin this year.

Tim Draper Bitcoin price prediction

The Tim Draper Bitcoin made his prediction on smarttest.wpmudev.host placed the price of Bitcoin at an unbelievably bullish level of $4 million. Why $4 million seems like a far cry from $4k, the Bitcoin price volatility this morning reminded us of how anything is possible in the cryptocurrency space.

Bitcoin Price Analysis: Altcoins Also In Crypto Bull Run- ABBC Coin gained by 30%

As the bitcoin bull run started and the price of Bitcoin moved higher against the USD, altcoins rallied beside the flagship cryptocurrency. Coins with low market capitalization outperformed Bitcoin in the cryptocurrency bull run. ABBC Coin gained by 30% and many others recorded similar gains. The entire cryptocurrency market capitalization gained almost $18 billion within a few hours crossing $162 billion. This shows that it was up by 12% within a hour. The trading volume also went as high as $43 billion.

Bitcoin (BTC) Price Today – BTC / USD

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Why is the price of Bitcoin and other cryptocurrencies rising?

While the entire cryptocurrency market has been expecting a bull run, it’s safe to say that the pump this morning was mainly influenced by FOMO (anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on social media). Yesterday, fake, April Fool’s news circulated in the cryptocurrency space. One of the most impactful was the Bitcoin ETF news. Rumor circulated that the Bitcoin ETF was approved. Before the joke was called, the market was already reacting positively. For now, it’s not clear if Bitcoin will maintain the bullish momentum. We just have to wait and see.

Bitcoin (BTC) Tests $5,000

According to cointelegraph, BTC, which skyrocketed yesterday and gained over 14 percent in price over 24 hours, spent a few hours above the $5,000 mark earlier today. The world’s top coin peaked at $5,043 at some point, according to CoinMarketCap stats, before going back to $4,900. As of press time, BTC is trading sideways, hovering around $5,007.

Ripple (XRP), ranked as the third-top cryptocurrency, has also been on the rise for the third consecutive day. The coin, which is now trading at $0.35, saw over 5 percent gains within 24 hours. Its market cap is $1 billion larger than yesterday — over $14.7 billion.

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.


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