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Next Stop $ 6000? Bitcoin Price Hits New 2019 High

The Bitcoin price has broken through the key resistance of $ 5,600, a new 2019 high. Bitcoin Price Hits Fresh 2019 Highs Bitcoin price (BTC) 0 0 has hit fresh on the new level. 2019 breakthrough key security at the former high of $ 5450. Bitcoin now seems to really climb out of a bear market that began in January 2018 when the crypto rivalry saw its all-time high of nearly $ 20,000. Bitcoinist market analyst FilbFilb noted yesterday, … [A] ll indicators indicate that Bitcoin wants to continue higher and all that is required is more of the same buying pressure during in the next few weeks, which could potentially lead to a review of the old $ 6,000 aid. If it fails, the $ 4000 level is now likely to serve as strong support if tested. This bullish scenario seems to be playing out. Now, the bitcoin price is eyeing the $ 6,000 level, which is likely to determine where the market is finally heading this year. Breaking $ 6k may be the last nail in the coffin for the bears too. This level is critical. It was the $ 6,000 range that served as support for almost four months from August to November 201 8. Today, Bitcoin is over 60 percent from low records in the first week of February and 58 percent over last year's low. These profits also mean that BTC now surpasses most traditional stocks, commodities, NASDAQ and S & P 500 so far…

The Bitcoin price has broken through the key resistance of $ 5,600, a new 2019 high. Bitcoin Price Hits Fresh 2019 Highs

Bitcoin price (BTC) 0 0 has hit fresh on the new level. 2019 breakthrough key security at the former high of $ 5450. Bitcoin now seems to really climb out of a bear market that began in January 2018 when the crypto rivalry saw its all-time high of nearly $ 20,000. Bitcoinist market analyst FilbFilb noted yesterday,

… [A] ll indicators indicate that Bitcoin wants to continue higher and all that is required is more of the same buying pressure during in the next few weeks, which could potentially lead to a review of the old $ 6,000 aid. If it fails, the $ 4000 level is now likely to serve as strong support if tested.

This bullish scenario seems to be playing out. Now, the bitcoin price is eyeing the $ 6,000 level, which is likely to determine where the market is finally heading this year.

Breaking $ 6k may be the last nail in the coffin for the bears too. This level is critical. It was the $ 6,000 range that served as support for almost four months from August to November 201

8.

Today, Bitcoin is over 60 percent from low records in the first week of February and 58 percent over last year’s low. These profits also mean that BTC now surpasses most traditional stocks, commodities, NASDAQ and S & P 500 so far this year.

Incoming Gold Cross?

Additional Bitcoin fuel can come from a “golden cross” or when 50-day moving agents move over 200-day MA, a very bullish signal.

 bitcoin price golden cross

Overall, the market sentiment changes clearly. As Bitcoinist reported yesterday, even bearish players are starting to put on.

Until recently, the prominent market Bitcoin market analyst Murad Mahmudov was bearish at BTC / USD, saying he does not expect a new bull run until the second quarter of 2020. Today he is 75 percent sure that the bottom is i.

In addition, analyst Tone Vays has reduced the risk that he predicts $ 1k below 40 percent. Meanwhile, Willy Woo says he is 95 percent assured that the bitcoin price bottom occurred in mid-December 2018.

Earlier this month, veteran trade Peter Brandt, who called Bitcoin’s $ 20K peak, was saying it wouldn’t surprise him The bitcoin price goes into a new parabolic phase.

Many indicators suggest that the market has turned

More good news for the bulls also comes from many indicators, for example Mayer Mutliple (MM) has risen above 1.0 which signals the establishment of

Rising institutional interest, the return of Korea’s “Kimchi premium” and Chinese traders who pay a mark for Tethers, making it easier to get to the cryptographic markets, are among the other signs that point to a bitcoin

Meanwhile, Bitcoin’s foundations are stronger than ever, while halving, which is expected to lower sales pressure on m arknade, now is less than 400 days away.

It is still too early to say that Bitcoin is now in a bull market. However, the number of positive signals increases with every day.

Is the Bitcoin bear market finally over? Share your thoughts below!


Pictures courtesy of Shutterstock, Tradingview.com

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