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Bitcoin Price Hits $6,400. This Is Officially a New Bull Market

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Fri, 05/10/2019 - 18:06
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Contents

The BTC price has recently reached an important milestone of $6,400, according to the data provided by CoinMarketCap. That essentially dissipates any doubts that crypto summer is yet to come.

Bitcoin breaks above $6,400
Bitcoin has no breaks, image by CoinMarketCap  

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The most-traded price of 2018  

As reported by U.Today, trading analyst Alex Krüger suggested the bull market will be officially confirmed when the BTC price surpassed the $6,400 level. This is the most traded price of Bitcoin in 2018.  

BTC is currently at the forefront of the crypto market rally with its price spiking by 5.61 percent over the last 24 hours and reaching its highest level since November 2018. The Bitcoin dominance index (BDI) continues to rise after recently hitting the 58 percent mark.

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A full-fledged bull run?  

Civic CEO Vinny Lingham has suggested that Bitcoin has to overcome one more challenge for the bull market to be officially confirmed. According to Lingham, if the BTC price doesn’t dip below the $6,200 mark during the upcoming one or two days, the bulls will come in full force.

Considering that neither the Bitfinex-Tether imbroglio nor the Binance hack produced a lasting negative impact on Bitcoin, this price rally is shaping up to be a full-fledged bull run. Wall Street vet Mike Novogratz recently voiced his brand-new prediction about Bitcoin reaching its current ATH of $20,000 in 2021.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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