Bitcoin Bull Run: BTC to the moon, other cryptocurrencies following.

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Bitcoin price jumped above $4000 resistance level to reach a two month high. Following bitcoin, all major cryptocurrencies are flashing green.


 

On 23rd February 2019 at around 18:00 UTC, Bitcoin surpassed the $4000 level creating a new hype in the market reaching close to $4200 mark today according to CoinGecko charts.

BTCUSD Price Chart - Coinbase
BTCUSD Price Chart – Coinbase

Bitcoin price experienced a slight downward correction but $4100 mark has now become major support for BTC and did not let the price fall further downwards. Bitcoin is currently trading at $4156 with signs of further gains. Bitcoin price has experienced a rise of more than 20% since the start of the month.

Others following bitcoin price:

It is quite usual for other cryptocurrencies to follow the price of bitcoin. As the bitcoin price started a bullish momentum, other major cryptos such as NEO NEM, ETH, XRP, EOS, LTC, BCH etc. have experienced a similar bullish momentum. Ethereum has gained more than 12% in the last 24 hours and more than 33% in the last one week, currently trading at around $164. EOS is the largest weekly gainer with more than 51% rise in just a week of time currently trading at around $4.25. Bitcoin Cash has also gained bullish momentum in the past week with more than 28% rise.

The market capitalization of cryptocurrencies has seen a rise of more than 7% in the last one week reaching around $143 billion today. The trading volumes have also seen a massive rise with the 24-hour trading volume being more than 31 billion. Analysts are forecasting a bull run in the coming days and many have already stated that the bear market has come to an end. The next major resistance for bitcoin is at around $4600 and if bitcoin price is able to break this range, it could spike up to $5000 mark very quickly.

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Janet F. Sanchez
Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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