Bitcoin looks like it is quickly headed for a 16-month high as it closes in on the $12, 000 mark as it shows little signs of bullish exhaustion.
As at the time of this writing, Bitcoin was already trading at $11, 900 and also showing an upward trend with no signs of correction. In the last 24 hours, a high of $11,957.73 had already shown which further signals the possiblity of Bitcoin hitting the $12K mark.
Bitcoin has been making its step gripping higher and it has seen a 200% price increase since the start of 2019 making it one of the most valuable assets one can own globally.
The current price is greatly more justifiable considering the present levels of awareness and adoption, like wise the current price rise as it seems more sustainable even compared to what happened in December 2017. This is clearly justifiable by looking at the number of transactions presently taking place on the blockchain.
Bitcoin taking the largest share at 60 percent from the wider crypto market which now stands at a combined market cap of above $345 billion. Aside that, other notable coin also followed up in the rises includes: Ethereum at $316, Bitcoin SV at $236, Bitcoin Cash at $476, and Binance Coin at $36.
The analyst at ThinkMarkets Trading Group, Naeem Aslam said that:
“The renewed mainstreaming interest in cryptocurrencies and the technology which underlines them were mainly the strongholds that brought about the strong resurgence of Bitcoin prices.”
He also added that: “Projects like Facebook’s Libra have provided much needed spark for this space and entrance.”
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