The price of Bitcoin [BTC] has reached a record time high for this year, reaching as high as around $8,900 USD before falling slightly.
At around 19:00 UTC on 26th May, the world’s major cryptocurrency by market cap broke from an ascending triangle pattern on the daily trading chart, once being held under $8,250 USD for an extended period of time.
This move to new 2019 highs comes after the price of Bitcoin [BTC] fell to as low as $6,600 USD earlier on 17th May before an oversized amount of purchasing pressure pulled prices back higher than $7,300 USD within the same day.
Since then the price of Bitcoin [BTC] has once more jumped by 22%, rising higher than $8,500 USD around 19:45 UTC on Sunday night & then reaching over $8,700 USD in just half an hour. It’s presently changing hands at $8,890 USD, as per data by ‘CoinMarketCap‘.
Notably, the price rally was additionally by a major uptick within the 24-hour trading volume, a rise of $10.3 Bln was added overall.
However, its “Real 10” volume – a metric that takes into account trading volume from several other exchanges reporting honest volume figures as identified within a report by ‘Bitwise Asset Management’ – presently stands at $3.1 Bln, in line with ‘Messari.io.’
The entire market cap has hiked to as high as $268.1 Bln which is its highest point since 3rd August, last year whereas the market cap for altcoins is up $6 Bln, an indication of continued funding and investment for cryptocurrencies overall.
The new resistance levels of Bitcoin [BTC] to now meet is around $9,650 USD, last seen around 13 months earlier on 30th April, last year, signaling a awfully sturdy upward move beyond the $10,000 USD price tag.