With a sudden bullish move, Bitcoin has extended its 2019 price increase today. The biggest cryptocurrency surged passed $5,600, the highest level since November 12 2018.
The cryptocurrency market increased by $4 billion over the past 24 hours, continuing the rise that Bitcoin and altcoins have seen in 2019. Bitcoin passed $5,600, reaching a 5-month high. Bitcoin fell from $6,300 to $3,700 in November 2018.
During the bullish momentum, most altcoins strangely enough have not seen the nice uptrend that you would normally expect. Major crypto assets like Ethereum, Litecoin, and Bitcoin Cash are recording some gains, but mostly in the range of 1 to 3%. Normally, during a Bitcoin surge, altcoins see an increase between 7 to 15%.
Nevertheless, the market is showing that bulls are still there and are ready for another run. The upcoming days will show if the positive trend can be continued and if Bitcoin, and the overall market, can be pushed to higher levels and maybe even reach $6,000.
If $6,000 can be reached, this will most likely be the official end of the bear market that has been controlling the crypto market since January 2018.