Bitcoin reaches new 2019 high, breaks $6000 on Bitfinex

03 May, 2019 | Updated: 03 May, 2019
by Jelmer van der Dussen
Breaking News
Bitcoin reaches new 2019 high, breaks $6000 on Bitfinex

Bitcoin has reached a new 2019 all-time high today, surging more than 5% to over $5700, despite the news and uncertainty about Tether and Bitfinex this week.

On most exchanges, Bitcoin is now trading around $5700. On Bitfinex, BTC is trading with a premium of $350, breaking the $6000 mark for the first time in 2019.

BTC/USD Chart provided by Tradingview

Bitcoin traded around the $5700 level in April as well, but never managed to break the barrier according to the data of Coinmarketcap. Now, BTC is trading on an average of $5751 on the exchanges.

Altcoins waiting
With Bitcoin on the rise, alts are playing the waiting game right now, with almost no movement in the biggest projects. Ethereum is up only 1%, with XRP and Bitcoin Cash in red. Binance Coin is also losing some of the gains it made following the hint Binance CEO Changpeng Zhao dropped on introducing margin trading to the exchange.

Cosmos (ATOM), the surprising new entry in the top 15 on Coinmarketcap, jumped to the 14th spot following a 11% rise. Amongst the worst performers in the top 20 are BitTorrent and WaltonChain, that are down 5% and are losing the gains made in the last few days.

New ATH coming?
Earlier today, renowned trader Peter Brandt posted a significant tweet, in which he said that the current movement of Bitcoin is similar to November 2015, when Bitcoin began its move from $350 to $19,800.

Bitcoin is making gains despite the news that Tether, the largest stablecoin in the cryptocurrency market, is not fully backed by US dollars, as it claimed to be. Only 74% of USDT is actually backed by USD. Bitfinex also came into the news in a negative way, alledgely covering up a loss of hundreds of millions of dollars by printing $850 million worth of USDT.

Traders excited
The good performance of Bitcoin has made the crypto community exciting, as expected. Traders are now watching the important $6000 mark. Around this price, a lot of resistance has gathered, making it hard for Bitcoin to continue this streak in the next period.

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Read more about: Bitcoin (BTC)


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