The Sleeping Giant Awakens: Bitcoin (BTC) Price Surges to $4,750

original via Universal Pictures

The largest cryptocurrency finally broke out above $4,200 on Tuesday after jumping more than 20% to north of $5,000 before pulling back to $4,746.

There doesn’t seem to be any major event behind the rally, rather, this looks to be the result of months of consolidation followed by a strong breakout through the last few months’ resistance level. This is Bitcoin’s first trip above $5,000 since November.

While some altcoins have sold off as traders react to Bitcoin’s surge, most major coins are up high single and even double-digits at the moment. The current leaders include IOST (IOST), Digitex Futures (DGTX), Dogecoin (DOGE), Nexo (NEXO) and TRON (TRX).

AltDex top-20 cryptocurrencies (AltDex)

The AltDex 100 Index (ALT100), a benchmark index for major cryptocurrencies, is currently up 10.5% over the last 24 hours.

More: AltDex Cryptocurrency Index Platform
Interesting: Q1 Crypto Market Recap: 21 Altcoins Doubled in Price in the First Quarter

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts