Home / Analysis / Crypto King Bitcoin Crosses $7,000 Following the Bullish Movement

Crypto King Bitcoin Crosses $7,000 Following the Bullish Movement


The world’s largest cryptocurrency firm Bitcoin has experienced many things in the cryptocurrency market and has gone through many ups and downs in the market. Bitcoin has experienced the bearish market trend previous year and losses its value, but this year is very good for the value of the Bitcoin in the cryptocurrency market.

Today, the price of crypto giant has crossed the mark of $7,000 and proved that it is strongly bullish in the market. This year is a very nice experience for the Bitcoin as previously predicted by the experts. Yesterday, the value of Bitcoin has crossed the mark of $7,500 in the crypto exchanges and markets, today’s value is decreased from yesterday’s value but traders and experts are positive about the bullish trend in Bitcoin. In the starting of May, the value of Bitcoin was around $5,000.

Current Value of the Bitcoin: Currently, Bitcoin is trading at the value of $7,023.56 USD, with the market capitalization of $124,299,514,033 USD and the 24-hour volume is $25,755,192,898 USD. The circulating supply of the Bitcoin is 17,697,500 BTC and the max supply of the currency is 21,000,000 BTC. The value of bitcoin is decreased by -5.08% from yesterday’s value.

On May 12, 2019, the highest value Bitcoin achieved was $7,503.87 USD. Bitcoin has lost -5.08% today, still, it has achieved the resistance level of $7,000 USD and Bitcoin has gained an increase of 35% from April’s value of $5,600.

If the market turned towards a bearish trend then only the value of the Bitcoin will go down. On the other hand, the next resistance level of the bitcoin has marked at the values of $7,600 and $8,000 and the support levels of the currency are marked at the values of $6,500 and 6,250.

Still, the value of Bitcoin value is still far from its 2017’s all-time high of $19,000. On the other hand, the news of one of the big crypto exchange’s hack and the decision on the regulation about the cryptocurrencies is still heated. Last month New York Attorney General Letitia James professed an $850 million cover-up by the firms such as Tether and Bitfinex, the firms behind the digital currencies.

About 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.

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