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.
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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 (@tyler) 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.
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