Bitcoin Breaks $5000 Resistance Level

In a wave of fresh greens across the cryptocurrency market, Bitcoin (BTC) hit new bullish highs. First from $4200 to $4700 in a few hours on Tuesday to a current increase by 8.89% on Wednesday, April 3 – over the 24-hour window to hit its best price above $5000 and breaking core resistance levels held since November 2018.

Following months of stagnant prices especially for Bitcoin (BTC), the cryptocurrency market witnessed a price increase going into its third day in a row with some coins posing mild gains and others accumulating percentage increase in double figures.

According to crypto enthusiasts familiar with analysis, the coin charts had been indicating a huge bullish candle formation for some time hence; this pump barely comes as a surprise.

See charts here

In line with the current rise, Bitcoin also regained its market dominance as the number one cryptocurrency after months of predicted altcoin season as the crypto market buzzed in its first major market recovery of 2019.

Similarly, Bitcoin’s market cap gained over $6 billion to post a market capitalization value of around $92.21 billion as at press time, with Bitcoin currently trading at $5254 per coin 8.87% up on the day.

Ethereum (ETH), currently the second placed cryptocurrency stayed in the green, up by 10% in 24 hours at a price of $176 per coin. Ripple (XRP), the third placed crypto also priced at $0.36 cents with a 6% increase.

Other major top gainers over the current 24-hour window include Bitcoin Cash $52%, Litecoin 31%, Bitcoin SV 25%, Cardano 20% and DogeCoin 33%. Across the market, there are barely any red indicators as most coins posed positive numbers.

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Written By

CryptoEnthusiast, CryptoEducator, Angel Investor, Writing Pro and Techie