The market has finally breached the $6000 mark, after months of stagnation and hovering between the $3000 – 4000 range. It has also surpassed the $100 billion market cap valuation. Bitcoin and most altcoins have both been seeing a lot of green lately despite some negative news, such as the Binance hack and the worrying Tether-Bitfinex situation.
At the time of publishing, bitcoin’s price is approximately $6074 and looks good to stay in this range for a while, and a resistance level, if more buys come in, is predicted to be $6152.
Notice the pattern: bitcoin stopped caring about bad news. $BTC pic.twitter.com/lgk5qo5lYw
— Alex Krüger (@krugermacro) May 8, 2019
Bitcoin’s price does not seem to be heeding the bad news that has been streaming in over the past few weeks, including the controversial Tether-Bitfinex situation and the hack that saw Binance lose 7000 BTC, or roughly $40 million, in one transaction.
Should the market continue on its bullish slope, then perhaps Tom Lee’s prediction that a proper bull market will arrive in about 6 months is not unlikely at all.
