Bitcoin is all over the latest cryptocurrency news today for recording another surge which put it at a 13-month high. The Bitcoin above $9.3k situation was present for a couple of hours before the most dominant cryptocurrency corrected. At press time, Bitcoin is trading at $9,113 with a $161 billion market cap and a dominance of 57.2%.
It all started when the leading cryptocurrency by market capitalization rose to $9,381 at 05:55 UTC which is the highest price we have seen since May 10 last year (2018) as the Bitcoin Price Index shows.
In fact, the Bitcoin above $9.3k situation has not been seen for some time now as BTC was trading in the $8,000 zone most of this week. As soon as BTC changed hands with the $9,400 mark, it corrected to $9,250 and then to the current price of above $9,100.
As many best cryptocurrency news sites note, more than $19 billion worth of Bitcoin has been traded across crypto exchanges in the last 24 hours, Messari data shows. Meanwhile, some of the major exchanges included in the calculation of Bitwise’s “real” BTC trading volume are reporting the 24-hour volume figure to be at $867,697,751.
With this price rise, Bitcoin’s dominance rate (or share of the total cryptocurrency market) has also surged. The Bitcoin above $9.3k is a price level which is great for the most dominant cryptocurrency – and boding well for the market in general.
In the coming altcoin news, we can see that Bitcoin has initiated a positive trend. Right now, Litecoin (LTC) is up by 2.3% as well as Ether, XRP and Bitcoin Cash which were all up 4% according to data from CoinMarketCap.
Meanwhile, EOS remains the best performing top 10 altcoin in the past 24 hours. It managed to add 7.4% gains overnight. Still, on a seven day basis, Litecoin is leading with its surge of 18.29%, closely followed by BTC which recorded a 17.20% growth on a weekly basis.
Looking forward, the Bitcoin above $9.3k is a scenario that could finally lead the cryptocurrency to the $10,000 resistance level. A lot of technical studies back this possibility and the 50 and 100 candle moving averages also look set to produce a bullish crossover.
With a 13-month high, Bitcoin has managed to retrace by around 38.2% from the December 2017 sell off.
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