Bitcoin hits $4,138, will BTC go higher this weekend?

23 Feb, 2019
by Joeri Cant
Price Action
Bitcoin hits $4,138, will BTC go higher this weekend?

During the last three hours, prices have spiked up sharply as about $5 billion has found its way into the cryptocurrency markets. As we approach the end of the weekend, will we see Bitcoin surge even more?

The latest bullish display of force has now pushed the world's most polpular cryptocurrency above the $4,138 mark thanks to a 3.62% increase, for a market cap over $72.5 billion.

The Bitcoin dominance is now on 51,7%, with Ethereum approaching the 12% mark. Global market capitalization has rosen sharply once again until the $140 billion mark.

Read more: Is Bitcoin at $1 million really possible?

Recently Chepicap reported that Josh Rager, a crypto trader and investor and advisor to TokenBacon and Blackwave, took to Twitter to state that because of the low-volatility of Bitcoin, and the fact that the number one cryptocurrency has been moving slowly sideways, it likely getting ready for its 'next strong move.'

Rager also mentioned that Bitcoin has been working on its first green monthly candle since July 2018. Something Bitcoin seems to continue doing according to today's prices.

Brian Kelly, the eternal Bitcoin optimist, and regular on CNBC’s Fast Money, recently added that he thinks Bitcoin is coming close to bottom.

'Here's the thing, the sellers that we've seen recently are almost forced sellers. Some CEOs had to raise cash because they say they “can't hold it in crypto all the time.” These are signs of the end. I don't know if it [the end of the cycle] is here or it's a little bit lower, but those are the signs of the end.'

The psychological barrier of $4000 has been seen as a significant one for BTC investors since the major price crash of November 2018.

Unfortunately, each rally above this level has been short-lived, and the price tends to lose its value almost as quickly as the sudden gains. Let's hope BTC will hold on to its gains this time around and keep up with the upward trend.

Read more: Bitcoin holds above $4,000, market cap up by $2 billion in 30 minutes

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Read more about: Bitcoin (BTC)

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