After the wild party that ended with the Bitcoin price reaching $13,813―its highest level in 2019―on June 26 (19:00 UTC), came the one-week hangover that took the price down all the way to $9,782 on July 2 (07:00 UTC). Now, though, the Bitcoin price is looking a lot healthier, having gone up over 17% in the past 24-hour period.
First, here's the two-week price chart that illustrates what a rollercoaster period this has been for Bitcoin, the rise from $9,155 on June 19 (06:00 UTC) to $13,813 on June 26 (19:00 UTC), the fall back to $9,782 on July 2 (07:00 UTC) and the rise to $11,566 (05:30 UTC) on July 3:
And at the time of writing (July 3, 06:15 UTC), as you can see in the 24-hour price chart below, Bitcoin is trading at $11,455, up over 17% in the past 24-hour period:
Currently, the total reported market cap for all coins/tokens is $311.5 billion, while Bitcoin's market cap is $205 billion.
Although Bitcoin's price is still down 43% from the all-time high (ATH) it reached in December 2017, it's year-to-date return on investment (ROI) is an impressive +211.36%.
All the other coins/tokens in the top 30 are currently in the green. Here are how some of the most popular altcoins are doing at the moment:
The three biggest gainers (with respect to USD) in the top 30 (by market cap) are:
- #15 Chainlink (LINK): $3.74 (+12.30%)
- #21 Tezos (XTZ): $1.12 (+28.60%)
- #24 Maker (MKR): $655.92 (+13.81%)
As for what the top crypto analysts and traders think about Bitcoin's latest price action, here are a couple of reactions:
Reasons why bullish $BTC despite the blow-off top:— Alex Krüger (@krugermacro) July 3, 2019
1. Big buyers out there
2. Retail not yet participating
3. Institutional on-ramps about to come online
4. Macro narratives catching on
5. Real LT positive macro backdrop
6. Miners hoarding on the way up
7. Halving countdown
$BTC: We had our 30% pullback so what's next?— Josh Rager 📈 (@Josh_Rager) July 3, 2019
History says that price consolidates followed by an average gain of 153% before the next big pullback
There are great rewards for buying pullbacks in a bull market
My original tweet on this here:https://t.co/n6TeXJJDbn pic.twitter.com/TbjqsJH8bX
Featured Image Credit: Photo via Pexels.com