After bitcoin (BTC) stagnated somewhat yesterday, the rate is now fast on its way to $ 13,000. With this, bitcoin rose particularly fast in 2019, something the bears had never thought possible. The bubble cracked and resulted in the crypto winter , but now bitcoin seems to come back on top.
At the time of writing, the price of bitcoin (BTC) is $ 12,628 According to CoinMarketCap after rising 11.5% in the last 24 hours. The market capitalization thus comes to $ 223.8 billion. A funny fact is that the market capitalization of bitcoin is now just as large as the market capitalization of the entire cryptocurrency market a few months ago. In short, the bitcoin bulls maintain the positive momentum!
Due to this rapid rise in bitcoin, the dominance of the cryptocurrency has risen to 61.8%. This means that the market capitalization of all cryptocurrencies together is $ 362 billion.
BTC broke out on 25 June from a rising triangle pattern. Such a pattern is often a bullish signal for an increase in the event of an outbreak. This was initially not the case, as the price remained close to the support at $ 11,200. However, the race started a new price rally at the start of last night.
In addition, it found resistance at $ 12,000, but it quickly broke through it. Bitcoin eventually set a new annual high at $ 12,940, bringing the $ 13,000 very close.
There is great resistance at the point where the price is now trading. When this price level breaks through, the next important resistance is only $ 13,600. If the price goes down, the next support will be around $ 12,000.