Bitcoin Leads Weekend Crypto Rally, Jumps Above USD 9,000
A steady growth over the weekend, pushed bitcoin price above the USD 9,000 level, while majority of other largest coins by market capitalization are registering smaller gains.
Bitcoin crossed USD 9,000 on Sunday morning and is now (4:55 UTC) trading at around USD 9,010. The last time the market saw this price level was on May 31, when bitcoin held above this level for 10 minutes before crashing below USD 8,200 in a few hours.
Now, the recent rally started from the same USD 8,200 on Friday, pushing the price around 10%.
Bitcoin is up by more than 4% in the past 24 hours, 14% in the past week and more than 21% in the past month.
Bitcoin price chart:
Jeremy Allaire, CEO of a major crypto company, Circle, recently estimated that bitcoin price will surpass USD 10,000 by June 21, “marking start of Crypto Summer.”
“Crypto market rallying (again) ahead of Libra Facebook’s digital token project] launch, marking a massive inflection point in global adoption of cryptocurrency,” he said.
Meanwhile on Sunday, among the top ten coins, only EOS registered slightly bigger gains in the past 24 hours, rising by 4.58%.
Top 10 coins by market capitalization:
Overall, the total market capitalization increased by more than 3% in the past 24 hours, surpassing USD 283 billion, or the level last seen in July 2018. Bitcoin dominance, or percentage of the total market capitalization, increased from the recent 55% to more than 56%.