Bitcoin (BTC) trading around $18,987 as of 21:00 UTC (4 p.m. ET). Gaining 3.2% over the previous 24 hours. Bitcoin’s 24-hour range: $18,059-$19,392 BTC below its 10-day moving average but above 50-day, a sideways signal for market technicians.
Bitcoin’s price broke above $19,000 Tuesday, hitting as high as $19,392, according to CoinDesk 20 data. Its price lost some steam after but rebounded to $18,987 as of press time.
“We could test an all-time high today,” said Rupert Douglas, head of institutional sales for crypto broker Koine. “We have had such a strong run-up that I’d be looking to take profits.”
Bitcoin’s record price high was $19,738 back on Dec. 18, 2017, according to CoinDesk 20 historical bitcoin data.
At over $1.6 billion as of press time, momentum in the form of USD/BTC volumes on five combined major exchanges is set for another banner day. Tuesday is shaping up to be the second highest in the past month as billion-dollar volume days for the five exchanges are becoming more common.
An optimistic economic environment has given both stocks and bitcoin “risk-on” properties as investment assets.
Analysts expect $20,000 per 1 BTC to arrive soon, which could produce some profit-induced selling but also more bullish buying, according to Rich Rosenblum, head of trading at crypto firm GSR.
Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Tuesday, trading around $604 and climbing 1.6% in 24 hours as of 21:00 UTC (4:00 p.m. ET).