Bitcoin’s raging 2019 bull run continues, with the leading digital asset hitting a new yearly high of nearly $13,000.
Right now, Bitcoin is up 13.45% at $12,816 according to COIN360, bringing most of the crypto market along for the ride.
As traders try to peg the timing of the next big correction and gauge whether BTC will soon hit a new all-time high, Kraken CEO Jesse Powell says he’s not sweating it until BTC hits at least $100,000.
When I hear people talking about a bitcoin “correction” I’m thinking $100k, maybe $1m. That’s what’s correct.
— Jesse Powell (@jespow) June 26, 2019
Trade volume on Powell’s San Francisco-based cryptocurrency exchange, which ranks in the top 30 globally, is up nearly 100% in the past 24 hours, according to data compiled by CoinMarketCap, with daily trading volume topping $320 million. Kraken also just raised over $13 million on crowdfunding platform BnkToTheFuture from 2,271 investors who are betting on a bright future for crypto.
Meanwhile, crypto analyst Alex Krüger says the reason for Bitcoin’s burst in the last day is simple: big, aggressive buyers are overpowering the sellers.
In a new mini tweetstorm, Krüger says BTC may retreat in the short term after recording the highest hourly volume in Bitmex’s history.
Time to share why $BTC just moved 13% and reached $12,972, while plowing on heavy volume through all resistance like butter.
— Alex Krüger (@krugermacro) June 26, 2019
The cause is simple: aggressive buyers crossed the bid-ask spread and overpowered both passive and aggressive sellers. Based on price action,