Just a couple of weeks after bears threatened to break Bitcoin’s rally, Bitcoin price has now hit a new record for the year, trading at USD 9,381 just an hour ago. Now, it is trading at around USD 9,340 at 9:00 am UTC (CoinDesk), and an uptrend looks imminent with the opening of the European trading market.
It appears that after yesterday’s confirmation that the Bitcoin bulls had returned for a weekend showdown, Bitcoin price never looked back from USD 8,700, climbing over 7% in the past 24 hours with a steady ascending volume of trade also accompanying.
In the flash of a single weekend, the bulls who predicted a successful attack of USD 9,000 and a five-digit US dollar valuation by June will suddenly feel they are on the brink of vindication. After trailing behind its cousin Litecoin in the past week in terms of valuation, it has now once more outperformed any other crypto in the Top 10 in 2019.
eToro analyst Mati Greenspan will be happy to remind people that he had predicted the breakout earlier in the week:
If Litecoin is indeed the leader, let's look out for a Bitcoin breakout this week. https://t.co/uaLmc2KT46
— Mati Greenspan (@MatiGreenspan) June 10, 2019
Bitcoin’s halvening event is due to happen around May 2020, less than a year from now, and it could be that this is slowly adding buying pressure as people expect an increased scarcity to up the demand for the world’s most asked-for crypto.
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