Analysis: Bitcoin Has Risen above $6,000 to a Semi-Annual Maximum

May 9, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The Bitcoin rate rose above $6,000 on most cryptocurrency exchanges today, thus reaching values ​​that the market last saw six months ago.

According to CoinMarketCap, at the time of publication, BTC is trading at $6,091.57, gaining over 3% over the past day. The same value was recorded on November 14, when another decrease was observed, which led to a fall in Bitcoin in the region of $3,000.

Credit: CoinMarketCap

At present, the capitalization of cryptocurrency amounts to almost $108 billion — more than all the assets on the market combined in December were worth. Bitcoin’s dominance index is also growing rapidly — now the value is 57% versus 51% in early April.

A number of other large cryptocurrencies this Thursday followed Bitcoin and showed a slight increase. Others remained at near zero values ​​or even fell. The aggregate capitalization of the segment approached $189 billion.

Credit: Coin360

TradeBlock’s digital currencies director, John Todaro, earlier said:

“The market over the past 1–2 months, has seen significant upward momentum and has brushed off numerous negative headlines within the space.” “If we break above the $6,000 level, we could continue to trade higher as momentum builds and negative news reports have a limited downward impact.”

Indeed, Bitcoin passed the next key mark on the day after 7,000 Bitcoins were stolen from the Binance and ongoing trials around Tether and Bitfinex.

Author: Marko Vidrih