Bitcoin’s April rally continues with ArmyOfBitcoin.com reporting that its trading value has eclipsed $5,500 to reach a five-month high. Current Bitcoin (BTC) trading levels have held steady above that benchmark early into the final full week of the month.

Tuesday’s post on this crypto news source by Sebastian Sinclair detailed the sudden rise in value. This is part of an ongoing rally dating back to the beginning of April when BTC first reached the $5,000 threshold. Even the most optimistic market projections for April at that time capped out between $5,200 to $5,300. This points to a healthy bull run in an industry that has been dominated by bears for well over a year.

See How Bitcoin’s Market Value Hits a 5-Month High

The peak value earlier this week hit $5,650. BTC has retreated a bit, but still holding steady at the $5,550 trading level. This represents a five percent gain. Market gains for other cryptos such as Ethereum (ETH) and Litecoin (LTC) have bee much more tempered in the range of 1.5 percent. Bitcoin Cash (BCH) is up close to three percent at $306.

The trading price of $5,650 earlier on Tuesday was the highest price since Nov. 18 of last year. BTC’s individual market capitalization of $96.9 billion is also at its highest level since mid-November. According to ArmyOfBitcoin, BTC’s “dominance rate” of the crypto market is 53.2 percent. This represents the market share of the broader value of all cryptocurrency.

Over the past 24 hours, the top 10 exchanges reported $14.95 billion worth of total bitcoin trading value. The top exchanges reporting this data include:

1. Coinbase.com
2. Kraken
3. Bitstamp

Overall, nine of the top 10 cryptocurrencies by their market cap rank has reported gains. The strongest performer in the group was Cardano (ADA) with a reported gain of 9.71 percent on the day according to ArmyOfBitcoin data.

Bitcoins & Entire Cryptocurrency Industry Increases Market Capitalization

The total capitalization of the cryptocurrency market has increased by roughly 6.3 billion with this early-week rally. The total capitalization figure increased to $184.3 million. While the rally is a welcomed sign for crypto bulls, the all-time high was $835 billion back on Jan. 7, 2018. Even with the current increase, the overall decline is still over 78 percent.

Summary

Article Name

Bitcoin’s Market Value Hits a 5-Month High

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Bitcoin’s April rally continues with ArmyOfBitcoin.com reporting that it's trading value has eclipsed $5,500 to reach a five-month high.

Author

Vladimir T

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Army Of Bitcoin

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