Altcoin Analysis: Bitcoin Rate Rose Above $5,500 for the First Time Since November 2018

April 23, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The rate of the first cryptocurrency this morning again showed a significant increase and for the first time in the last five months, it rose above $5,500. The daily increase is almost 5%.

The price of Bitcoin began to rise in the morning and reached a maximum of $5,650, the last time recorded on November 18 last year.

Bitcoin capitalization increased by more than 1.50%, reaching $98.2 billion. At the same time, the index of the dominance of the first cryptocurrency also increased and, according to the CoinMarketCap, now stands at 53.5%.

In addition, over the past day, the volume of Bitcoin trading on cryptocurrency exchanges amounted to 16.2 billion. The volume of trade of all cryptocurrencies reached $50 billion, which is noticeably below the mark of $89 billion, which was recorded earlier this month.

The rise in cryptocurrency prices in relation to the dollar is noted throughout the market. Among the top ten cryptocurrencies, only one shows a slight decrease — Binance Coin — BNB (-0.56%). The Cardano (ADA) coin showed its best performance, which grew by 9%.

The other day, Fundstrat founder Tom Lee said that a new cycle of the bull market is starting. According to the Bitcoin Suffering Index (BMI), a new growth cycle should start on the market in the near future.

Author: Marko Vidrih

Chart via CoinMarketCap

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