Bitcoin rises to more than $ 5,500

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Money, consisting only of data: In this computer in Saint Hyacinthe, Canada Bitcoin are generated.
Picture: AFP

2019 has been a good year for Bitcoin so far. Since the beginning of the year, the digital currency has gained more than 60 percent. What is the reason?

DApril has been a golden month for the digital currency Bitcoin so far. The price of the digital currency rose for the first time since November last year to more than 5500 dollars. Thus, a bitcoin alone in April by about $ 1,500 worth more or about 37 percent.

Franz Nestler

Market observers spoke of a significant threshold that confirms the upward trend. Important is also a technical chart appearance. For the first time since 2015, there is again a golden cross. Charting engineers call it that when the short-term trend beats the long-term trend. In this case, the 50-day line has cut the 200-day line from below, which is commonly interpreted as a buy signal.

The news agency Bloomberg suspected strongly rising trading volumes for warrants on the American stock exchange CME as a reason. In the wake of Bitcoin, other digital currencies also rose strongly. The total market capitalization is currently $ 185 billion. They are worth about $ 45 billion more than at the beginning of the month. At $ 99 billion, Bitcoin is still the largest of its kind, accounting for more than half of the market. Number two is Ethereum with just under $ 19 billion, followed by Ripple in third place with about $ 14 billion.

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. (TagsToTranslate) dollars (t) Digital Currency (t) crypto system (t) Bitcoin

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