Bitcoin Is Over $6,000

Bitcoin Is Over $6,000

With a growth rate higher than other crypto currencies, Bitcoin (BTC) surpassed this Wednesday (05-08-2019) night (8:50 pm, UTC-4) the important barrier of USD 6,000, a level it had in mid-November 2018, at a time when there was a decline of the entire market. Bitcoin Hits $6,000!

At the time of the crossing of this important milestone, according to CryptoCompare figures, BTC showed an increase of 2.3% in the last 24 hours, approximately 1.5 times the increase of the total market for crypto coins, which was 1.5%. One hour later, BTC was already showing an appreciation of 3.31% and its price USD 6.079.

Bitcoin Hits $6,000
After fluctuating much of the day above USD 5,900, BTC broke the psychological barrier of USD 6,000 at 8:50 pm (UTC-4). From: cryptocompare.com.

When we look at the top 10 currencies by market capitalization, we see in the chart CoinMarketCap, that BTC maintains the highest percentage growth in the last 24 hours. with 3.8% boom.

Bitcoin Hits $6,000
The growing advantage of BTC is notorious in the group of the first 10 cryptocurrencies. It is striking that after the recent ETH maximum of USD 180, that cryptocurrency shows today a quotation of USD 172.65. Image CoinMarketCap.

Bitcoin Hits $6,000

This return of BTC to USD 6,000 almost six months later raises the issue of the recent predictions of reputable market analysts who defended the thesis that BTC had already bottomed out.

The price of USD 6,000 is relevant in the evolution of the BTC price in the last year and a half, because after the pronounced fall since the beginning of 2018, from the level of USD 17,500 (BTC price on 06/01/2018), the USD 6,000 represented the bitcoin support for 11 months, while this evolution towards the decline became more gradual.

In the period 06-01-2018 to 14-11-2018 the price of BTC deteriorated 63%.

Almost half a year later, the notorious decline of November 2018 has been reversed.

Compared to the first of January of this year, BTC has had an appreciation of 61%, a remarkable boom that coincides with the breaking of the barrier of USD 6,000.

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