Bitcoin (BTC), the most popular cryptocurrency in the market, was able to surge 5% and come back to be traded above $10,100. This comes after several days in which Bitcoin was traded under $10,000 a very important psychological level that investors were following in the market.
Bitcoin Surges Over 5% In 24 Hours
Bitcoin has returned to be traded above $10,000, a price level that it lost at the end of August and lasted until today. Since yesterday night, Bitcoin started to behave positively, however, the first leg up was registered at 00:00 of August 2nd. In just a few hours, Bitcoin surged around 3%.
Bitcoin started to be traded around $9,750 and $9,850 until today at 11 a.m. when it started growing once again. Since that moment, Bitcoin registered a price increase of 4.3%, at least on Coinbase. This is the largest daily gain for Bitcoin since mid-August. In addition to it, Bitcoin has registered four green daily candles, the largest positive daily trend since the last days of July and the beginning of August.
Although most of the top 100 coins are registering gains, Bitcoin is a clear leader in the market. As registered by CoinMarketCap, Bitcoin dominance is currently 69.7%, showing that it is getting very close to 70%, the largest value reached by Bitcoin’s dominance since early 2017.
Ethereum (ETH) is currently growing 4.3%, XRP 1.52%, Bitcoin Cash (BCH) 4.18%, Litecoin (LTC), 2.21% and Binance Coin (BNB) 5.33%. These digital assets have a price of $177, $0.25, $291, $66 and $22.46, respectively.
Today morning we wrote an article in which we shared what experts believe that could happen with Bitcoin’s price. For example, Peter Brandt, a recognized chartist and trader, said that Bitcoin could have entered its fourth parabolic phase.
In addition to it, the Founder and CEO of Global Macro Investor and Real Vision Group, Raoul Pal, said that this could be the last time to “board the rocket ship,” making clear reference to Bitcoin.
I LOVE wedge patterns like this. They have a high probability of success.
Good luck. There is a "shit ton" going on in macro land. pic.twitter.com/tmNzxkcgTQ
— Raoul Pal (@RaoulGMI) September 1, 2019
According to data provided by CoinMarketCap, Bitcoin is now being traded around $10,122 and it has a market capitalization of $181 billion. Bitcoin could now find a momentaneous pause close to $10,300 and stabilization before continuing its growing path. Despite the poor performance of the last few weeks, investors remain bullish about the long term.