A Sunday surge has sent bitcoin price barreling though resistance yet again as it tops $9,300. The move has lifted total market capitalization above $287 billion which is the highest it has been since July 2018.
Bitcoin Price Hits 13-Month High
There has been no lay in for traders in Asia this morning as bitcoin price 00 hit a new 2019 and a 13-month high of $9,380 this morning. Following yesterday’s big move BTC spent the best part of Saturday trading around $8,650.
As reported by Bitcoinist yesterday, the bulls were targeting $9k and they reached that milestone a few hours ago.
From there BTC rose sharply to its new high for the year before retreating a little to $9,270 at the time of writing.
‘Crypto Winter is Over’
Daily volume is back over $20 billion as the 7.5% surge on the day lifts bitcoin to fresh highs. All concerns over the big correction appear to be dissipating as crypto markets are driven higher today. Fundstrat co-founder and bitcoin bull, Tom Lee noted;
Taking a step back, with $BTC #bitcoin at new 2019 highs, don’t those old highs look like a few FOMO days away? Crypto winter is over…
Crypto winter is over… pic.twitter.com/1neKiEzaFA
— Thomas Lee (@fundstrat) June 16, 2019
From here five figures is just another 7 percent away however there is another level of resistance to break around $9,600 before it can get there.