Bitcoin surges through $6,400, bull run confirmed?

11 May, 2019
by Joeri Cant
Price Action
Bitcoin surges through $6,400, bull run confirmed?

The world's number one cryptocurrency has surged through the $6,400 price mark and is currently trading at price levels that were last seen at the beginning of November 2018.

Bitcoin has surged from its daily lows of $6,100, towards its current price of $6,497.46, showing a 4.18% gain on the day.

The world's most popular cryptocurrency has left its 2018 lows of $3,200 far behind, which seems to confirm that this price level was indeed Bitcoin's bottom, and is up notably from its seven-day lows of around $5,600.

Bitcoin’s bullish upwards momentum has propelled it to new 2019 highs.

BTC/USD Chart by Tradingview

Many crypto analysts have long said that $6,400 is the key price level that must be broken, before we can confirm the start of the next bull run, and even though Bitcoin’s price has now comfortably passed that level, it is important for BTC to hold that price point for the rest of the day.

The well-known crypto analyst and trader Alex Kruger, pointed out earlier in May that a break above $6,400 would confirm the start of a new bull market.

Now that BTC is trading well above the $6,400 price mark, Twitter is blowing up with some 'crypto positivo'.

Do you think the bull run is now confirmed? let us know in the poll below.

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Read more about: Bitcoin (BTC)

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