Bitcoin rate exceeded $5300: can it break through $5500 mark?

11.04.2019 18:30:41

In the evening on Wednesday, April 10, Bitcoin was able to overcome the new psychological line and rose to $5302.

Now Bitcoin descended to $5074, and its capitalization is $89.155 billion. Today, the BTC exchange rate has descended by almost 4%. Now the coin faces the task of not only breaking the $5,400 mark but also attaining a new height of $5,500.btcusd-1-April.jpg

And many observers agree that Bitcoin has a real chance of a new breakthrough in the coming days.

BTC still saves the chances to grow, but some experts, such as Winnie Lingham, believe that even if BTC jumps to $6,200, the coin will still not be able to stay at this level and the phase of a lengthy negative correction will come.

If we want to see Bitcoin gradually increase in value, we should create conditions under which institutional players will come to the cryptosphere to buy Bitcoin.

So far, we are seeing a positive trend - during the first four months of 2019, institutional Bitcoin trading is growing steadily. And if the infrastructure to use the asset expands, the demand for Bitcoin will remain high, according to a review by Diar analysts.

The largest altcoins Ether (ETH) and XRP descended by almost 8% during 24 hours. Litecoin showed even 10% decline. The capitalization of the cryptocurrency market descended to $172.926 billion.