Bitcoin is approaching $13,000 – “quite possible that the gains will continue”
Jun 26, 2019
During Tuesday night (CEST), the bitcoin price continued to rise. From having been trading at around $11,211 on Tuesday evening, the price soared hour by hour to finally peak at $12,935 during Wednesday morning, according to numbers from Bitstamp.
Although the bitcoin price dropped somewhat after that, this is still an increase of over 15 percent and also the highest price so far in 2019.
“When it goes this fast upwards, there usually comes a so-called correction downwards. It is quite possible that the gains will continue for a while, but as a crypto investor one should always be cautious and prepared for strong downward corrections after a long period of rising prices”, says crypto expert Totte Löfström to Trijo News.
The trading expert Dennis Sahlström also believes that there will be a larger decline in the crypto markets “because every upgoing market consists of corrections”.
Bitcoin currently represents 62 percent of the total market cap of all cryptocurrencies, according to Coinmarketcap.
Ethereum increases ten percent
Other big cryptocurrencies also show green numbers in the last 24 hours. For example, ethereum has increased from $306 last night to peaking at $337 this morning. This is an increase of over ten percent.