The New 2019 High was reached by the Bitcoin in today’s trading. The capitalization also grows to a new 2019 high for crypto market, as well. Fundamentals are showing positive signs that can be compared to the surge of 2017.
The New 2019 High Pushed Bitcoin But Eats Up Altcoins
The altcoins were negatively affected by the bitcoins rise. The new 2019 high pushed capitalization significantly. The volume reached a new high of $18 billion for the day and the Bitcoin market cap went all the way up to $110 billion.
The rise pushed the capitalization of the Bitcoin higher but it was more a case of investor moving their money from the altcoins to the Bitcoin. After the rise of the Bitcoin, the altcoins were generally in the red, with the exception of the Litecoin.
The Litecoin Rides The Momentum of the New 2019 High
The Litecoin went higher despite other altcoin going on the red in market trading today. The Binance coin felt the exodus out of the altcoins to the bitcoin as it went down 8% as it went down to $19. Other altcoins went down like the Stellar and the Ripple’s XRP as they lost around two percent for the day. The Litecoin gained strength, one of the few altcoins to, went up to $77 for the day to mark 2.5% growth.
Other coins that lost traction include Cosmos, and Tron which lost approximately 8% and 4% respectively. This is a clear indication of the Bitcoin consuming lesser coins. The Ethereum went up slightly to $175 but, despite the rise, ETH cap shrank to where it fell below 10% of the total Crypto market.
New Strength of Bitcoin Push It to New 2019 High
The bitcoin has held strong above the $6000 psychological resistance after it broke through. Since passing that level, it has not retreated below it. The Bitcoin went up 3% to a level just $6300. As a result of this newfound strength, the bitcoin dominated the market with a 58% of the total Crypto market capitalization.