Bitcoin’s Market Cap achieved $5 Billion, Is it start of the Bitcoin’s Parabolic Bulls Run?

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Arushi Dubey
Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

On June 10, 2019, Bitcoin has crossed the market capitalization value of $5 billion. Bitcoin just achieved the value in just 60 minutes; the value of the bitcoin was around $7,668 and then the value increased up to $8,000. On some crypto exchange, the value of the bitcoin even crossed the mark of $8,000.

In comparison with the year 2018, the year 2019 is very excellent for Bitcoin. The previous year Bitcoin was in the bearish pressure and this year the value of the Bitcoin started somewhere around the value of $3,700.

The value traded sideways for some time, but it gains momentum around the month of April. The experts have predicted that the value of Bitcoin will surge up to $9,000 by the end of month June. The year-to-date run of the Bitcoin is over 140% and the value of the Bitcoin is settled at the price of $8,000.

Current Status of Bitcoin: Currently, at the time of writing, Bitcoin was trading at the value of $7,974.54 USD and its value is increased by 3.01%. The market capitalization of the currency is $141,570,270,637 USD and the 24-hour volume of the Bitcoin is $17,676,633,520 USD. The circulating supply of Bitcoin is 17,752,775 BTC and the max supply of Bitcoin is 21,000,000 BTC.

The experts are trying to figure out what is the exact reason behind the surge of Bitcoin’s value in the crypto market. This price action of the Bitcoin has confused the investors and traders in the market. Even, the experts are thinking if the bull remains strong then the Bitcoin will achieve the mark of $10,000 soon.

The experts were positive that this year will be great for the cryptocurrencies in the market in comparison with the previous bearish year of 2018. Some of the experts are also predicting that the price of the Bitcoin could reach up to $25,000 and some of the experts are thinking that it could also reach up to $100,000. On the other hand, the Bitcoin’s value trends are still bullish in the market and it is a good time to invest in the Bitcoin in the crypto market.

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