Category Archives: 2019 high

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Bitcoin Soars to 2nd Yearly High in a Week

The Bitcoin bulls are decidedly back, today recording yet another 2019 high at USD 9,793 just hours ago, the second in only a week’s period. It is a strong rally that completely threw off the bears after Bitcoin had a bad start to the month, and while it is now trading at USD 9,720 at 9:00 am UTC (CoinDesk), there will be few doubting that the 10-thousand dollar head will be next on the chopping board.

Asian traders were yet again at the fore, although North America also played a part, ensuring that price remained above USD 9,300 after picking up from the day’s low at USD 9,198. By the time China woke up, price was on the verge of breaking a new high, and sentiment merely picked up from there.

It has been many weeks since we last saw a 24-hour pattern that is generally on a non-stop ascending line, especially after bears took down gains in May. Today’s almost 5% jump from yesterday is also on the back of a good week, so technicals will be extra sharp for a likely positive sentiment through to the remainder of the month.

Fundamentals continue to also set records, with hashpower reaching a new all-time high this week, ensuring that the Bitcoin network has never been more secure in the same week that Facebook’s Libra crypto hits the news headlines.

Bitcoin Hash Rate Climbs to New Record High Boosting Network Security https://t.co/eUWJk3wOzn #Crypto #blockchain #Bitcoin #Ethereum #ETH #BTC #share2steem #ThachSanh #Cointelegraph

Bitcoin price may be at its highest in a year, but hash rate is setting all-time highs this week

— Thủ thuật máy tính (@thuthuatmaytinh) June 21, 2019

It is, however, just the beginning of the time for London to enter the scene so all eyes will be on Europe to see whether they will continue the momentum and make a break for five-digit USD valuations, or if short-term profit taking will gnaw away at today’s gains so far.

 

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Bitcoin Down from New High But Firm at $9,150

Bitcoin price managed to record yet another high for the year today, after registering USD 9,469 just past midnight UTC on Tuesday (CoinDesk), coinciding with the start of East Asian markets. However, it was unable to hold onto fresh gains, but at the same time, has not traded below USD 9,100 in the past 24 hours as that support level holds firm.

Europe markets have woken up now, causing a sharp dip from USD 9,300 to current levels near USD 9,150 but it will take a few more hours to see where this direction could go. General sentiment does appear to swing back towards a majority of bullishness after the weekend’s rout of the bears, with CNBC’s Fast Money leading the pack and repeating their assessment of a USD 10,000 Bitcoin being along the way.

Bitcoin is booming to its highest price in a year and the Chart Master says it’s heading straight for $10K $BTC pic.twitter.com/91R9GhfIgT

— CNBC’s Fast Money (@CNBCFastMoney) June 17, 2019

Some bears who were stubbornly pointing at the very same charts a week ago and predicting that the long-term downtrend is still very much on the cards, warning not to be “fooled by these little “pops” in the market”, have managed to stay silent so far.

Whatever the argument, as time passes and Bitcoin valuation rises, there are fewer days left that had you bought Bitcoin, today would leave you in a negative amount. According to one observer, only 110 days, to be precise.

Bitcoin has been around for a little over 3,800 days.

There is roughly a 110 day window where the price was above the current $9,300.

Meaning if you bought Bitcoin during 97% of it’s lifetime, you’re in profit.

Only problem is a LOT of people bought in during the 3% https://t.co/JzyovQ7G4z

— Crypto Bobby (@crypto_bobby) June 17, 2019

 

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Bitcoin Shatters New 2019 High at $9,381

Bitcoin Shatters New 2019 High at ,381

Just a couple of weeks after bears threatened to break Bitcoin’s rally, Bitcoin price has now hit a new record for the year, trading at USD 9,381 just an hour ago. Now, it is trading at around USD 9,340 at 9:00 am UTC (CoinDesk), and an uptrend looks imminent with the opening of the European trading market.

It appears that after yesterday’s confirmation that the Bitcoin bulls had returned for a weekend showdown, Bitcoin price never looked back from USD 8,700, climbing over 7% in the past 24 hours with a steady ascending volume of trade also accompanying.

In the flash of a single weekend, the bulls who predicted a successful attack of USD 9,000 and a five-digit US dollar valuation by June will suddenly feel they are on the brink of vindication. After trailing behind its cousin Litecoin in the past week in terms of valuation, it has now once more outperformed any other crypto in the Top 10 in 2019.

eToro analyst Mati Greenspan will be happy to remind people that he had predicted the breakout earlier in the week:

If Litecoin is indeed the leader, let’s look out for a Bitcoin breakout this week. 🚀🌛https://t.co/uaLmc2KT46

— Mati Greenspan (@MatiGreenspan) June 10, 2019

Bitcoin’s halvening event is due to happen around May 2020, less than a year from now, and it could be that this is slowly adding buying pressure as people expect an increased scarcity to up the demand for the world’s most asked-for crypto.

 

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Analysts Flabbergasted as Bitcoin Gains 10% to Top $6940

Analysts Flabbergasted as Bitcoin Gains 10% to Top 40

Bitcoin forgot to take the weekend off and instead has been grinding out day after day of solid gains, with price surging more than 10% in 24 hours in the past hour to record a new 2019 high at USD 6,944 at around 6:00 (UTC), according to Coindesk.

This would have been long after the last trading session, that closed on Friday in North America. So, much of it could be credited to frenzied buying activity in Asian markets.

As Bitcoin slowly broke USD 6,300, some analysts had barely made predictions that USD 6,850 would be the real test in the coming week, only to have that resistance level breached in a matter of hours. Others had warned of buying exhaustion after consecutive weeks of positive gains, but as can often be the case with Bitcoin, price continues to defy logic.

Even Bitcoin bulls on Twitter have been embarrassed by Bitcoin’s performance, with those like fil₿fil₿ booking in their profits and calling it a day at USD 6,500 on Bitstamp:

But others have been taking the chance to ride the wave and suspect that more could be on the way:

$BTC Took a good chunk of profit in the upper-mid 6.3s. My spidey sense has been tingling since last night. I’ve learned to follow it. Even if we keep bullishly continuing, I don’t regret listening to my gut. Waiting for a good re-entry that screams out to me. No FOMO. No rush.

— B.Biddles (@thalamu_) May 10, 2019

Civic CEO Vinny Lingham asked for 48 hours for Bitcoin to stay above USD 6,200 to confirm the bear market would be over. He appears to be a day away from getting what he asked for and may soon be, apparently, a raging bull.

If Bitcoin can hold the $6200 level for the next 24-48 hours, then the bear market is officially over and I’m going to become a raging bull!

— Vinny Lingham (@VinnyLingham) May 10, 2019

 

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