Bitcoin price surges past its crucial resistance of $6000 as the bulls take the charge to push the world’s largest cryptocurrency northward.
Today, May 9, the world’s largest cryptocurrency price has achieved a new milestone for 2019. Breaking its major resistance, Bitcoin has surged past $6000 levels for the first time in 2019. At the press time, Bitcoin (BTC) is trading at $6100 with a market cap of $107 billion.
The last time Bitcoin was trading above this level was on November 15, 2018. But just within a month’s time by December 2018, the cryptocurrency crashed to a lower level of $3100.
After hitting its all-time high on December 2017, Bitcoin had undergone a massive price crash until April 2019 after which the cryptocurrency again started gaining a northward momentum. Since April 1, 2019, Bitcoin has recovered nearly 40% as on today. Also, last week on Friday, May 3, Bitcoin price crossed its $100 billion for the first time in 2019.
On Wednesday, May 8, CoinSpeaker some import technicals like the support and resistance of Bitcoin (BTC). The cryptocurrency is very close to its first technical resistance of $6121 after which we can confirm a bullish trend. With today’s price surge, Bitcoin dominates nearly 57% of the overall crypto market cap, to CoinMarketCap.
Today’s Bitcoin price rally comes even after crypto exchange Binance 7000 BTC tokens on Tuesday, May 7 in a major hack. It shows that the bulls have taken up the charge, suppressing all the negative sentiments around Bitcoin.