- By Pierre-Alexandre
May 27th, 2019
After consolidating for a week around $8000 levels, Bitcoin starts the week on a massive price surge above $8800 with its market cap crossing $155 billion.
- 1. Bitcoin Price Rise Over $8800
- 2. Top Recent Bitcoin News
- 3. Bitcoin Market Analysis Using Omenics’ Sentscore
1. Bitcoin Price Rise Over $8800
After flirting around the $8000 levels over the entire week, Bitcoin offered a Sunday bonanza to its investors. On Sunday, May 26, after 1 PM PST, the Bitcoin price surged massively by 10% moving over $8800 levels extending the weekly gains, between May 20-26, to over 10%.
Just when Bitcoin looked to be consolidating and setting up a based at $8000 levels, the bulls charged-in again. Sunday’s BTC price surge also shows a massive surge in daily trading volumes which are now above $30 billion. At the press time, Bitcoin is trading at $8724 with its market cap crossing over $155 billion.
According to the above price chart on Omenics, Bitcoin has attained a new 2019-high of $8814. A number of analysts from the crypto space expect the bullish momentum to continue setting up its next immediate target at $10000.
Last week on May 21, global market analyst Alex Krüger had tweeted some key support and resistance levels. Sunday’s price surge broke the resistance of $8500 setting up the next resistance at $10,000.
$BTC levels— Alex Krüger (@krugermacro) May 21, 2019
Support: 7600, 7200, 6800, 6400, 6200, 6000, 5750-5500, 5000.
Resistance: 8400-8500, 10000, 11500-11750, 13000, 15000, 17400, 20000, moon.
2. Top Recent Bitcoin News
- Bitcoin’s massive price rally on Sunday, May 26, is reportedly due to the Bitcoin whales moving millions of dollars in BTC tokens. In the last 24 hours, over 27,000 BTC tokens worth over $235 million have been reportedly moved in nine separate transfers.
According to the popular Twitter handle whale alert, over 15,000 BTC tokens were moved in a single order as the transaction takes place between two unknown wallets.
- Luxury Swiss watchmaker Franck Muller has teamed up with investing firm Regal Assets to release its Bitcoin storage watch “Encrypto” having cold wallet functionality. According to the report, the watch comes with the public address engraved on the dial and paired with a private key on a USB drive.
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