TheCryptoUpdates
Bitcoin News

Bitcoin Price Grows 18% to Hit the $19K Mark

Bitcoin

With what comes across as a wonderful news for crypto investors and enthusiasts, Bitcoin price has yet again hit the $19000 mark. This promises to fetch fresh gains for traders as the major cryptocurrency surged 18% against weekly lows. 

The Recovery

The prices took a steep dive to $16300 last week. However, by the beginning of Monday, it recovered to $18600. At the time of writing this piece, Bitcoin price stands at $19286. According to a recent report, a huge $1,300 CME futures gap threatens to plummet the crypto market. However, the market sentiment regarding this issue has so far remained unaffected, as it now promises to deliver more than 17% returns against the last week lows. 

The Future

Crypto analysts and experts have estimated that the $18200 mark is extremely crucial. Moreover, the $18,600-18,900 range will provide firm resistance as per those estimates. It is being speculated that if Bitcoin manages to support these zones, it could well be in contention to hit the $20000 mark soon. 

Prominent names in the crypto trading space are also optimistic about BItcoin prices. In a recent interview, Sino Global CEO Matthew Graham commented that Bitcoin bulls have a long-term vision which is much beyond the intermittent bear phases. He went on to add that these people envision Bitcoin to mature as an asset class.

Related Articles

Bitcoin News | Bakkt Bitcoin-settled Futures contracts expected to be approved by CFTC in early 2019

Akansha Kesarwani

Bitcoin News | Nasdaq Confirms the Launch of Bitcoin Futures in Q1 2019

Akansha Kesarwani

Bitcoin News | Calvin Ayre Predicts Bitcoin Price will be Zero in 2019

Akansha Kesarwani