Leading cryptocurrency, Bitcoin finally beat the resistance levels between $8250 and $8300 in a rapid market move towards the end of the weekend.
The breach which finally happened after several times of asking saw the coin set a new all-time high for 2019, reaching prices just above $8900 before slightly retracing to $8692 at the time of writing.
There is little doubt that if the positive sentiment that has characterized the market in recent times continue then Bitcoin could overcome resistance levels at $8900 and target prices half of its 2017 all-time high of near $20,000.
Meanwhile, the latest uptick means that Bitcoin is now gaining over 120% on the year-to-day chart, a figure that is unmatched by most traditional investment vehicles.
Bitcoin’s market cap at press time was $154.2 billion, with the top coin also boasting 57.2% of the total cryptocurrency market.
Top-ranked altcoin, Ether (ETH) has witnessed a remarkable increase for last month and was not about to fall behind as the crypto market surged at the weekend.
At the time of writing, Ether was exchanging hands at $266, representing a 6% increase on the 24-hour charts with its market cap just above $28.3 billion.
For the records, you would have to travel back to September 2018 to find Ether above the current value, perhaps signaling a renewed interest in an altcoin that surged above $1000 during the parabolic bull market earlier that year.
As we reviewed in an update last week, Ripple’s XRP coin often tagged the 30 cents coin is gradually moving away from that price range in the wake of the new flow of money into the crypto market.
XRP $0.41 value at press time means that the altcoin’s value has increased by 8% on the 24-hour chart with its market cap hovering above $17.6 billion.
The total market cap of all cryptocurrencies.— $269.6 billion