{"id":381754,"date":"2019-05-12T10:06:31","date_gmt":"2019-05-12T10:06:31","guid":{"rendered":"https:\/\/uniquehot.com\/?p=381754"},"modified":"2024-06-11T07:48:23","modified_gmt":"2024-06-11T07:48:23","slug":"bitcoin-price-crosses-7500-to-establish-fresh-2019-high","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-crosses-7500-to-establish-fresh-2019-high\/","title":{"rendered":"Bitcoin Price Crosses $7,500 to Establish Fresh 2019 High"},"content":{"rendered":"

The bitcoin price<\/a> has jumped above $7,500 to discover its fresh yearly high.<\/p>\n

The world’s largest cryptocurrency established $7,568.32 as its new session peak, bringing its year-to-date net rebound up to 140 percent on San Francisco-based Coinbase exchange. The broader cryptocurrency market tailed bitcoin’s uptrend, with a majority of top assets posting double-digit gains, including Bitcoin Cash, Litecoin, EOS, and Ethereum. Even Bitcoin SV, which lately faced trading ban at several cryptocurrency exchanges, saw a 10 percent appreciation in the last 24 hours.<\/p>\n

What’s Driving Bitcoin Bulls<\/h2>\n
\"bitcoin\"<\/a>
Bitcoin Establishes New 2019 Highs above $7,500 | Image Credits: TradingView.com<\/figcaption><\/figure>\n

Bitcoin’s continuous climb to $7,500 came in the wake of improving buying sentiment and technical forecasts. Fidelity Investments, a Boston-based asset management firm with a vast Wall Street clientele, announced<\/a> last week that it would add bitcoin trading to its list of institutional investment services. At the same time, online investment service TD Ameritrade started<\/a> offering stimulated bitcoin trading through Nasdaq, raising hopes that a full-fledged bitcoin adoption was underway.<\/p>\n

Meanwhile, technical data continued to identify the end of bitcoin’s most prolonged bearish phases after the asset formed a low in $3,100-3,200 range on December 15, 2018. Momentum indicator Stochastic RSI, for instance, rebounded<\/a> from its oversold territory for the first time since February 2018 on monthly charts. The move identified a trend shift, meaning that the market was eyeing an extended bitcoin price recovery in the future.<\/p>\n

\n

$BTC<\/a> Stoch RSI currently at 2015 pre bull run level (33) and should enter
"overbought" territory in about 1 or 2 months. <\/p>\n

Last time it lasted 2 years from $300 to $19K. #bitcoin<\/a> pic.twitter.com\/mhezb6YL85<\/a><\/p>\n

— Galaxy (@galaxyBTC) May 10, 2019<\/a><\/p><\/blockquote>\n