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Bitcoin (BTC) Insanity, Price Attacks New Yearly Highs Above $12,000

© Reuters.   Bitcoin (BTC) Insanity, Price Attacks New Yearly Highs Above $12,000
© Reuters. Bitcoin (BTC) Insanity, Price Attacks New Yearly Highs Above $12,000

(BTC) added more than $1,300 overnight, steadily breaking a series of records for 2019. The fast appreciation of the coin convinced traders that a very fast bull market was underway.

BTC peaked at $12,867.79 as of 6:20 UTC on Wednesday. Later, the leading coin retreated toward the $12,600 range, still up more than 11% in a single day, a level of volatility not seen in months.

The entire market capitalization of BTC rose to above $223 billion’s equivalent. The BTC rally increased the market cap dominance to 61.9%, meaning BTC for now leaves altcoins behind. The market dominance is the most significant since 2017, and has recovered since the lows near 33%.

The most recent rally has set the trend for 2019, with expectations that BTC will be the strongest-growing asset for the rest of the year.

This article appeared first on Cryptovest

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Source: investing.com
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