Bitcoin Breaks $10,000 Ethereum Breaks $300
Bitcoin breaks the biggest psychological resistance of $10,000 in a single attempt. Bitcoin is now looking at $11,000 mark and trading at $10,900 (at the time of writing). Bitcoin gains 11.32 percent today and top cryptocurrencies follow the steps.
After trading in a tight range of $3000-$4000 in the first quarter (Q1) of the year, Bitcoin gains 251 percent from the bottom price ($3200) of 2019. Bitcoin uptrend is started on 1 April and continues the pace.
All technical indicators show bullish movement and experts believes that Bitcoin will make a new all-time high before block halving (May 2020).
A report shows that Bitcoin hash rate (total computing power of the network) hits a new all-time high this week. That means people are interested in Bitcoin mining and there is a possibility of a further price increase. Hash power increment will make the Bitcoin network stronger against attacks.
Ethereum the second largest cryptocurrency by marketcap breaks the $300 resistance and is now trading at $310. Ethereum has a long way to cover to reach an all-time high of $1500. Ethereum will move to Proof-of-Stake (PoS) blockchain from Proof-of-Work (PoW) blockchain in 2020. This is bullish news for Ethereum and can push the price to a new high.
The total marketcap is now $325 Billion and Bitcoin share 59.5 percent of the total marketcap. Bitcoin marketcap is now $193 Billion. The daily trading volume of the cryptocurrency market is now more than $80 Billion.
Altcoin market will show a massive growth after Bitcoin rally stops and stable at a price.
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