Bitcoin Bottom Callers Left Behind; Climbs Above $5800

Since the price of Bitcoin made a slight shift from the mid-December low of $3200, many investors and traders suggested that the cryptocurrency’s price is yet to hit rock bottom and must do before a bull run can set in.

Well, Bitcoin has once again demonstrated its existence as a non-correlated and unpredictable asset class, defying odds to reach a new all-time high for 2019.

At the time of writing this report, Bitcoin was exchanging hands at $5810 even though it started the trading day at a little over $5500. In other words, Bitcoin (BTC) is recording an over 6% increase on the day and over 50% increase on the year-to-day chart.

The increase has also seen the top cryptocurrency reclaim a majority of the market share with a 55.2% dominance against other coins. With the market cap hovering at just over $102 billion at press time with a value of $5814, the cryptocurrency needs one final push to find its way past the $6000 support that it held for an extended period during the 2018 bear market.

ETH/USD

In a similar fashion like Bitcoin, top altcoin Ether (ETH) is also in solid greens, with gains just below 5% according to press time data from Coinmarketcap.

While ETH started the day with prices near $162 it has climbed to as high as $170 before retracing its steps back to $169. The altcoin’s market cap has gained $700 million within the period under consideration and stood at $17.89 billion at press time.

XRP/USD

Holders of the native token Ripple’s payment system doesn’t see as much joy in the markets as Bitcoin and Ethereum holders. That, however, does not rule out that on a bearish day, the 1.50% growth that Ripple (XRP) records on the 24-hour chart would not signify a healthy gain for traders.

At press time, XRP had a value of $0.30 and a market cap near $13 billion.

Others cryptocurrencies in the top 10

Aside from the top-three cryptocurrencies mentioned so far, market performance for the other top coins include —

• Bitcoin Cash (BCH) — $294 (+8%)
• Litecoin (LTC) — $79 (+8%)
• EOS — $5 (+7%)
• Binance Coin (BNB) — $23 (-1%)
• Stellar (XLM) — $0.1 (+3%)
• Cardano (ADA) — $0.07 (+2)

Total market cap — $186.1 Billion