The growing influx of optimism and the next wave of newcomers in the crypto economy have made markets around cryptocurrencies heat up. The coming altcoin news show that besides Bitcoin, Ethereum has also smashed the highest price this year. The bullish crypto situation ignited this week, seeing Bitcoin go higher than $11,300 and Ethereum trade at more than $317.
On Friday, the BTC price ended the week by bursting through $10,000 which was seen as a major psychological level. It rose by $700 intraday as many best cryptocurrency news sites showed – settling above $10,150 for the evening. Ever since then, BTC has gone on to reach highs of $10,800 and then $11,300.
The June 21st spike made bullish crypto all over the news and powered BTC to its best price so far in 2019, putting the “digital gold” up by 60% since this point last year. The cryptocurrency is now 155% over the last three months and 1,593% over the last five years. At any level above $10,000 – Bitcoin is halfway to its December 2017 all-time high of $20,000.
The bullish crypto situation has been likely driven by Libra – the cryptocurrency that the social media network and giant Facebook announced earlier this week. A debate has exploded around it in both crypto and mainstream circles. As the latest cryptocurrency news show, Bitcoin has been brought to the fore as the biggest blockchain with the biggest native cryptocurrency.
The founder of the exchange Gemini, Tyler Winklevoss, was bullish on crypto and identified a lot of opportunities if Bitcoin goes above $10k. As he said in a tweet:
If bitcoin breaks 10k, you can bet it’s going to break 15k…👍🏻🚀
— Tyler Winklevoss (@tylerwinklevoss) June 19, 2019
This is definitely a very optimistic projection even with the bullish crypto situation right now. However, such a rapid movement would not be unexpected. When Bitcoin hit $10,000 in November 2017, it took less than two weeks for FOMO to nudge the cryptocurrency and make it rocket past $15,000.
So, there is no telling if the same trajectory will play itself out once more this year for BTC and ETH. However, the bullish crypto phase is here and we may be days away from a new all time high on the markets.
The coming altcoin news have shown that despite BTC and ETH, there is a real growth on the altcoin markets and it seems that institutional investors as well as FOMO (fear of missing out) by individuals are driving it.
Coinbase Amassed 30 Million Users: 5 Million In Last Month
Bitcoin Falls Below $10,000 At The Key Psychological Level For Investors
“Breaking down to support zone. On 1HR chart showing top of support zone now acting as resistance. Not a great sign for bulls and want to see price break back up in neutral territory Continue to watch this area for a break $10,189 will lead back down to 4-digit BTC.’’Earlier this week, before bitcoin pulled back from the $10,300, another crypto asset trader noted that the gap in CME’s bitcoin futures contract could be settled at $8,500 indicating that if the bitcoin falls below, there could be a possibility that it will go down even lower than expected. Since the middle of July, Bitcoin showed some incredible movements, one of which led to a 9% rally in a matter of minutes which also led to a liquidation of the most short contracts on the trading platforms. DonAlt, the popular crypto trader and tech analyst noted that the next support for bitcoin can be found at $9,800 saying that a 4-digit drop is likely at the current cincture of the market:
“If I had to pick two places to close shorts///long it would be the two green areas below. S1: $9800; S2: $8200. Anything else is in no shape or form significant enough to me to buy in a (short-term) bear trend.’’As noted in the latest cryptocurrency news, the technical indicators show a week hand for bulls but the fundamental factors are boosting the sentiment around the market.
Tim Draper Believes Crypto And Libra Are Bridges To A Bitcoin World
“I think all these other cryptos are bridges to where we have a Bitcoin environment,” he said.Appearing in the unique trademark Bitcoin tie, Tim Draper believes that US regulators were too heavy-handed dealing with innovations like Bitcoin, blockchain and related fields - which is what he told CNBC. He did not say anything about other altcoins which might have been featured in our altcoin news section. When it comes to Libra, he said that there was no need to demand regulatory assurances before the product had even launched.
“We’re putting regulation before the innovation — Facebook’s just announced Libra; they haven’t even been able to ship it yet, and the regulators are all over them,” he continued.Currently, many best cryptocurrency news sites explore the link between Libra and Bitcoin. At press time, Bitcoin looks stable and is trading more predictably after a turbulent week which saw a lot of price swings as the Congress debated a cryptocurrency policy. Tim Draper believes that there is lack of Bitcoin support against government. He is in a lot of interviews recently, talking about being a Bitcoin bull, his investments in the crypto space as well as his outlook on the future of the crypto space.
BTC Network Is Now 8x More Powerful Than It Was At $20,000
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Bitcoin News2 days ago
Big BTC Price Boom Will Bring To Consolidation: Market Experts
Bitcoin News3 days ago
Banks Are Afraid Of BTC And They Are Chasing Their Customers Away
Bitcoin News2 days ago
Fiat Money Is Used 800 Times More Than Bitcoin To Launder Money
Blockchain News3 days ago
Japan Will Create International Crypto Infrastructure Better Than SWIFT
Blockchain News4 days ago
Former CEO Of WEX Crypto Exchange Gets Arrested In Italy
Altcoin News3 days ago
Bank Of Thailand Is Open To Discussions With Libra
Bitcoin News3 days ago
Bakkt BTC Futures Reached “Critical Mass” And Expected To Launch Soon
Regulation4 days ago
US Congressman Claims Bitcoin Is An ‘Unstoppable Force’