After weeks of flirting with resistant levels and an Asian Crypto Pump, the Bitcoin Breaks Through Resistance level to reach $5,000 mark. This rise fueled rise among other crypto currencies to fuel a swelling of the market cap above $160 billion.
Bitcoin Surge Above Strong Resistance
The positive fundamentals and the held back prices fueled a rise for the Bitcoin that investors were eagerly awaiting. In a few hours of trading, they saw an increase to above the $4,200 resistance level. The main block chain currency surged above $5,000.
As expected, the trading of the bitcoin pulled back to the next strong resistance at $4,700 before vaulting above $4,800. The Bitcoin settled with a $15% increase for the day.
Ethereum and XRP Grows Slower Than Bitcoin
Ethereum also rose with the Bitcoin, but not at such a rapid rate. Both of these major coins saw a rise of 7%. This is roughly half of what the Bitcoin rose for. Ethereum settled around $150. The XRP went up to $0.336 with Asian Crypto Pump.
Altcoins Ride Bitcoin Wave
Altcoins like TRON, IOTA, and MONERO rode the rise of bitcoin. These coins saw an increase above 9% for the day after the rally began on the Asian Crypto Pump.
Asian Crypto Pump Push Market Cap to Highs
Asian Markets fueled a rally for the Crypto market. This comes after a two-day dump that saw Market Cap lose $5 billion in just those two days. The Rally saw an increase of the Market Capitalization above the $160 billion mark.
Waiting on a Second Wave
As the American Market progresses, investors are hoping, the positive outlook will provide them with another wave to ride for profitability. This positive outlook shows that the rise is technically driven and the drive should continue on as long as the positive fundamentals maintain.