Bitcoin’s [BTC] prices saw a sudden rise today, causing it to break its previous immediate resistance. Bitcoin also registered its biggest high of 2019. However, after the last candle closed, the coin was starting to dip.
At press time, BTC was valued at $5,687.53 with a market cap of $100 billion. The 24-hour trading volume of the coin was noted to be $16.14 billion and BTC surged by 4.71% over the day. The coin was going strong, climbing by 0.95% within the past hour, while reporting a growth of 7.31% over the week, at press time.
Source: TradingView
Bitcoin [BTC] was once valued at $3,651.02, and it has since hiked by 53.46% to be valued at $5,602.91. The latest resistance to be overcome by the largest cryptocurrency was $6,505, which was the November 2018 peak. The coin was highly traded on BitMEX with XBT/USD pair and reported a volume of $2.62 billion. FCoin followed BitMEX to note a trading volume of $1.76 billion with BTC/USDT pair. Negocie Coins took third place with a trading volume of $1.47 billion via BTC/BRL pair.
Prominent old-school trader, Peter Brandt, drew similarities between the current trend of BTC and the trend in November 2015. The trader said,
“The last time Factor’s benchmark weekly MA was in the current profile of turning from down to up was in Nov 2015 just as $BTC began its move from $340 to $19,800.”
Source: Twitter
This might indicate the beginning of a bull run for BTC. However, the current rise in price is considered a big dump by the whales.
The post appeared first on AMBCrypto
