Bitcoin And Ethereum Lead The Market To A 2019 High

Bitcoin and Ethereum are in the main focus everywhere – from the best cryptocurrency news sites to the crypto analysis boards, charts etc. It seems like these two cryptocurrencies are the main reason behind the new market high which was established today, May 7th.

In times when the momentum is pretty monumental for a market cap to rise and get to another all-time yearly high, Bitcoin and Ethereum played things safe and both surged, pushing the total market capitalization up to a new high for this year at little less than $190 billion. The market is now consolidating again and preparing for yet another bull run which may lead us to a new milestone of $200 billion for the first time in a lot of months.

The influx of $9 billion which has entered the space over the 24 hours was mostly noticed in Bitcoin and Ethereum – specifically their growth – where Bitcoin touched a new yearly high of $5,950 a couple of hours ago while Ethereum rose close to $180 for the first time this year. The high of $180 was stopped by a small consolidation and a slow pull back. Still, the momentum is with the top two at the moment, as reported in the latest cryptocurrency news.

Both BTC and ETH are crucial for the market. As the two largest cryptocurrencies out there, their greens are crucial for further growth. What these two have proven is that the market in a stable state (after months and months of struggling) and the top twenty gains are also pretty solid at the moment as we can see in the altcoin news section.

The total cryptocurrency market capitalization has surged to a 2019 high of $189.5 billion which is the current level now. Bitcoin’s dominance has also increased to 55.9% and the 24 hour trading volume is now at $56.8 billion according to stats. What’s interesting is that both Bitcoin and Ethereum are rising as we speak and their prices are definitely coming closer to new heights.

Bitcoin touched a new yearly high at $5,987 minutes ago with a market cap of $105.91 billion which is another major milestone for the most dominant cryptocurrency. The reported daily trading volume right now is just shy of $18 billion.