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Bitcoin [BTC] Price Hits New Record High, Next Expected Price Tag Is Above 9k.

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‘.

Bitcoin [BTC] Price Hits New Record High, Next Expected Price Tag Is Above 9k.

1-Month Bitcoin [BTC] Price Chart.

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.’

Moreover, another high ranked cryptocurrencies including Eos [EOS], Ethereum [ETH], Ripple [XRP], and Litecoin [LTC] have gained between 5.5 to 6.5% each on a 24-hour basis.

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.

At the reporting time, Bitcoin [BTC] is presently trading at price around ‘$8,724.84 USD‘, which is 9.11% higher over the past 24 hours.

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