It looks like all major financial markets around the globe are on the fire nowadays. And as major indices rally across the globe, the euphoria is also catching up in cryptocurrency space. All major cryptocurrencies have been rallying since yesterday, and in the process Bitcoin has also crossed the much awaited $4,000 mark only a few minutes back. This can become a major turning point from where the momentum for a bull run may start picking pace.
The rally was going on since yesterday itself. As trading sessions started in US BTC was up as much as 1.01% according to data provided by Coin360. It was trading slightly above $3,900, so we were expecting it to cross $4k mark in next few hrs. However, since a lot of resistance is seen around such important psychological levels we were not very convinced that it will be able to breach through 4k. Increased selling pressure around the level could have forced it to stay below 4k mark. However, fortunately that didn’t happen and it broke through $4k. Currently Bitcoin is trading at $4,074, which is its highest price point in 2019 and a price 3.85% higher than the price of yesterday.
Other cryptocurrencies also in green
Speaking of other cryptocurrencies is also important, as they have paid a pivotal role in this rally. They were rallying throughout the week even as Bitcoin remained less responsive to their movements. At the time of writing this article Ethereum is trading at $143.8, which is 6.8% higher than its price of yesterday. The third largest cryptocurrency by market cap, namely XRP, is also up 2.87% and currently is trading at $0.32.
There’s only one top riser from the list of top 20 in today’s trading session: Bitcoin Cash. Right now it’s up 16.94%, trading at the price of $156.91. Its other major rival, namely Bitcoin SV, is also up, but only by 6.73%. Current price of Bitcoin SV stands at $70.88.
It will be interesting to see how things go today. If a bull run has to pick pace then it’s important for BTC to remain above $4k mark. Let’s see whether that happens or not, as some selling pressure is now starting to appear.