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

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.

The network of Ethereum will be upgraded around 28th Day of February 2019. The Constantinople hard fork of the Ethereum (ETH) network will be held within a few days, if everything goes as per the plan then the date of upgradation may arrive anytime after 26th Day of February 2019.

Last hard fork was delayed in January which was a day before the launch due to the discovery of the bug at the last moment. It is being said that there are possibilities of another critical vulnerability, which may delay the process once again.

For now, there are no such indications about another delay. Ethereum Foundation’s developer Afri Schoedon left after claiming that there are disagreements in the process of decisions making.

The Ethereum hashrate is low in the month foremost to the hard fork. The fall is of 2 ETH from the current hashrate of 3 ETH. The market price of assets is also at a breaking point after a recent rally and remains unable to cross the level of $150. On Friday, ETH was trading at $145.43 as of 8:10 UTC.  A positive sign is the high trading volume.

What’s next?

In upcoming days, the price of ETH may see a change of direction depending on whether the hard fork goes as planned or gets delayed again like the previous one.

For now, 20.64% of all Ethereum nodes are ready for the fork, with expectations that most users would be able to get on board at the last moment.

As per Amberdata.io, The official announcement has been made stating that the scheduled upgrade will happen at block number 7,280,000 on 28th Day of February 2019, which is the end of the month.

The counted on hard fork will bring major changes to the Ethereum Improvement Proposals (EIPs), which will affect various things, like core protocol specifications, client APIs, and contract standards. St. Petersburg is a new addition which is also planned to take place on the same block number as Constantinople.

Even after so many controversies and a massive price fall, Ethereum has started to see better days in the crypto market.

Eurex, a Germany based derivatives exchange is all set to launch cryptocurrency futures contracts tied to Bitcoin, Ethereum and XRP.

Eurex’s parent organization, Deutsche Börse, has allegedly been wanting to present crypto futures since December of 2017 when Bitcoin price was close to its record-breaking high of $20,000.

Addressing German news outlet Wirtschaftswoche, a Deutsche Börse representative stated,

“We are thinking about futures, with which private investors and institutional investors can protect existing investments in Bitcoin or set for falling prices of the cyber currency.”

Eurex crypto futures is one piece of Deutsche Börse’s endeavors to extend its blockchain-based applications. In Spring of 2018, the exchange declared cooperation with HQLAx, a fintech organization that has some expertise in providing liquidity solution for institutional customers. The organizations are building up a securities loan offering dependent on R3’s business blockchain product, Corda.

Deutsche Börse says the activity is gaining noteworthy ground with six banks affirming they’ll join the stage at dispatch date, which is planned for the starting months of the current year itself.

Eurex was established in 1998. It is the seventh-biggest derivatives exchange around the world, as per information by Statista, and the fifth-biggest exchange by a number of single stock futures contracts exchanged in 2017, as per information by the World Federation of Exchanges.