After a slow movement towards the end of April, the crypto market has resumed its upward trend in this first week of May 2019.
A market capitalization that has risen above $180 billion has been spearheaded by Bitcoin which is currently trading at a new high bitcoin price for the year. As at the time of writing, the bitcoin price is $5,808, representing a surge of over 6% within the last 24 hours.
On its way to the current price, Bitcoin overcame strong resistance around the $5,600 region. There is a 50 week MA that sits just above the said price. Traders see this as a significant move that can push the bitcoin price to even higher levels. Although there is still the possibility of a retracement that may want to test the said region again.
In a trend that has become normal especially of late, Ethereum follows Bitcoin’s movement and has climbed above the $165 significant level. This is also a good sign for the bulls who have watched the second largest cryptocurrency display a rather bearish display over the last couple of weeks.
Overall, the bullish sentiment in the cryptocurrency market has continued. Most analysts expect this to extend even further into this year and beyond. Gateways like CryptoFish are making it easy for participants to access a variety of cryptocurrencies through its easy to use platform.
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