Bitcoin Tops $11.3K to Hit Fresh 2019 Highs

in #bitcoin8 months ago

Bitcoin has set a new price high for 2019, reaching as high as $11,304 today before conceding a short-term period of profit taking.

At 21:00 UTC on June 23, the world’s largest cryptocurrency by market capitalization shot upwards on the daily chart, cementing a new high beyond June 22’s peak of $11,215. The move to another 2019 high comes after bitcoin’s price dropped to as low as $10,416 on June 23 before another surge of buying pressure pushed prices back above $10,750 within the same day.

From then BTC bolstered 6 percent, rising above $11,000 at around 19:00 UTC on Sunday evening and then reaching over $11,300 two hours later. It’s currently changing hands at $10,768 as per CoinDesk’s price data.

BTC’s 2019 bull run has already started off with a bang in recent weeks, a likely a combination of traders buying into their own fear-of-missing-out (FOMO) as well as institutions chasing the tail end announcement of Facebook’s project Libra.

However, large levels of volume failed to accompany the rally, beginning at 97.6 billion traded over a 24-hour period and continued to decrease to as low as 67.5 billion by days end, meaning that the move was unsupported and a small sell-off from that point out, was definite.

Its “Real 10” volume – a metric that takes into account trading volume from exchanges reporting honest volume figures as identified in a report by Bitwise Asset Management – currently stands at $46.17 billion, a large difference, according to Messari.io.

Meanwhile, the rest of the market remains relatively flat today, with but a few in the top 20 posting gains. Cadano (ADA) and UNUS SED LEO (LEO) are the only two in the green within the top 20 at CoinMarketCap and are both posting 0.4-2.4 percent growth, respectively, over a 24-hour period.

In addition, the total market capitalization rose to a high of $331.8 billion, its highest point since July 31, 2018, while the market capitalization for altcoins is down $3.8 billion over a 24-hour period pointing to a preference in holding BTC above all else amongst the trading elite.

Sort:  

Source
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. Plagiarized posts are considered spam.

Spam is discouraged by the community, and may result in action from the cheetah bot.

More information and tips on sharing content.

If you believe this comment is in error, please contact us in #disputes on Discord

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.bitcoin-forums.net/bitcoin-tops-11-3k-to-hit-fresh-2019-highs-coindesk/

Congratulations @agnethaschmidt! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You received more than 50 upvotes. Your next target is to reach 100 upvotes.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

The Steem community has lost an epic member! Farewell @woflhart!
SteemitBoard - Witness Update
Do not miss the coming Rocky Mountain Steem Meetup and get a new community badge!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!