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Bitcoin Price Jumps 6% reaches 5-Month High, Trend Similar to Previous Year Bull Run

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Bitcoin Price Jumps 6% reaches 5-Month High
  • Bitcoin price reaches $5782 at press time, price data from CoinMarketCap.
  • Almost all moving averages and oscillators are indicating a buy signal.
  • It seems that Bitcoin will soon make a strong resistance at $6000
  • This price move is somehow similar to the previous bull run.

Once again the crypto market is in the green zone as almost the price of all cryptocurrency rises. Bitcoin (BTC) today jumps more than 6% and the price today hits 5 months high. At the press time, BTC is valued at $5,782.72 USD which is more than 6.01% in the last 24-hours.

Bitcoin Price has gained more than 10.7% in the last 7 Days, 18.5% in the last 30 Days and almost 51.4% in the last 60 Days. However, the price is still low by almost -36.8% from the last 1 Year.

The current Market Capitalization of Bitcoin is $102,239,559,852 USD having a circulatory supply of 17,680,175 BTC.

Almost 6.43% of today’s BTC volume is traded on FCoin crypto exchange in the BTC/USDT trading pair. Also, Negocie Coins has almost 6.02% of the trading volume in BTC/BRL trading pair.

Bitcoin price showing last year bull run
Source: TradingView

After seeing the Bitcoin price chart it can be concluded that the price movement is following the massive bull run of 2017.

Volume Weighted Moving Average (20) on a daily basis is 5433.9 which is indicating a buying signal.

Hull Moving Average (9) is also in the buy zone with a value of 5840.2 while Ichimoku Cloud Base Line (9, 26, 52, 26) is in the neutral zone.

While among the Oscillators the MACD Level (12, 26) having a value of 238.2 is indicating a buying signal.

Disclosure: The author holds no cryptocurrency assets. Investing in cryptocurrency is highly risky please do not consider this article as investment advice. Do your own research before investing in such assets.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.