A new Bitcoin run is everywhere in the latest cryptocurrency news. Aside from the price outbreak which allowed BTC to reach $11,318 this morning, the dominance of the most dominant cryptocurrency is up by 3.5% ad is now at 60%. The total cryptocurrency market cap is stable at $336 billion and all of the altcoins are in the green.
Besides Bitcoin and its new meteoric surge of 5% overnight, the altcoin news show that Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH and EOS (EOS) are all stable with small gains of less than 2%. Minimal reds are seen in the Litecoin (LTC), Binance Coin (BNB) and Bitcoin SV (BSV) prices which are slowly declining.
The new Bitcoin run proved that there is a lot of new sentiment on the market. One of the key reasons for that is the daily volume which crossed the $67 billion mark. A lot of this can be attributed to Facebook releasing Libra details, PwC rolling out new auditing tool for cryptocurrencies and Japan’s largest messaging app Lime announcing a potential crypto exchange.
The market momentum is strong as Bitcoin is continuing in its parabolic moves. The best cryptocurrency news sites show that BTC managed to add 17.5% since last week and 5% with the new Bitcoin run. After two attempted breakouts, the cryptocurrency has found a strong resistance around $11,200. Even though it is now over that resistance, it has a safe bottom zone at $10,500 as the analysts show.
Ethereum (ETH) managed to close last week above $300 during the new Bitcoin run – something that happened for the first time this year. The new run allowed ETH to add more than 13% while the rest of the top-30 market is following a mostly bullish trend.
NEO (NEM) is one of the cryptocurrencies which also shined in the coming altcoin news. As our weekly crypto update showed, NEO managed to add 21.4% to its price in less than a week and Monero (XMR) is also following this trend, being up by more than 18%.
The latest news show that EU regulators called for central bank review of Facebook’s Libra cryptocurrency. This could definitely influence the prices on the market. If all goes well, we could see a new Bitcoin run heading to $20,000 very soon.
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