After creating a new All time High some weeks ago, the oldest and biggest cryptocurrency asset Bitcoin, breaks past the previous ATH level to create a new ATH level after a week of price consolidation.
Bitcoin Chart 4Hrs
Bitcoins price level went up about 11.73% since the beginning of this month after recording a price increase of 42.26% in the month of October. The Alpha coin is currently worth a whopping $1.289 trillion and seems on the verge of surpassing the market capital of silver.
Bitcoins market dominance has spiked to about 43.8% due to the recent price increase as its overall value is almost half of the total cryptocurrency market capital. Price of the Alpha cryptocurrency touches $67,000 for the first time on the 20th of October, the day after Proshare’s BITO Exchange traded fund launched in the U.S.
The cryptocurrency asset then faced a retracement and consolidation for about two weeks which it used to gather a lot of bullish momentum and thus swiftly recovered before swiftly breaking the precious All Time High set just in the month of October. The cryptocurrency market really has a lot of influencers as the surge came just after Digital Currency Group CEO Barry Silbert made a teasing remark “a big week” for the cryptocurrency market.
We are still yet to see the end of the cryptocurrency bullish trend as the Bitcoin still looks set to breaking more records and further leading the cryptocurrency market to become the largest in the globe, as more and more industry powerhouses are still coming into the crypto space
The second largest cryptocurrency is also making a big wave push as Ethereum has made an over 20% increase over the past weeks. we therefore should be expecting a lot of bigger movement in price before the year ends.
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