Bitcoin made an impressive run in April, taking other cryptocurrencies along for the ride. Coin Idol reported that this was the reason behind the huge surge in interest in the BTC, making a repeat of its pre-2018 popularity. The report stated that last year was simply a bad time for the cryptocurrency industry, but BTC is making a push in 2019, overtaking other assets like stocks, real estate, oil, and gas, as well as gold.
Another bull run for BTC is in the works--that is, if this pricing remains. Analysts stated that cryptocurrency values have been sitting pat at the $6,000 price level. Senior analysts like Peter Brandt have continued to predict the growth of BTC and other cryptocurrencies, and will also likely post a high value of $100,000 by year's end, or by 2020.
BTC, Petroleum, Gold, and the real estate/stock market have all been measured by the data. BTC has undergone significant growth in May alone, rising up to more than $5,300 after posting a value of $4,130. It has remained solid in the $5,000 price level, beating most of the other assets in the trading days so far. It is impressive to note that it started 2019 carrying a $3,760 trading price.
A report from Coingape has shown how BTC has been mapping out its routes in the cryptocurrency pathways, beginning in April 2019. It has since kept its surge and presented a 5-month high of $6,000 in Thursday, May 9. It marked the first time it hit the mark ever since November 2018, when a market crash ended its historic 2017 bull run.
According to other reports, the price run had continued through 24 hours. BTC currently has a price gain of 2.97% in the last 24 hours. Ethereum is also in the green, with a modest gain of 0.23% to show for and a price of around $170. Ethereum had also followed a historic year run, where it almost reached about $180 on May 7.
XRP, another cryptocurrency, hasn't been as lucky; estimates have it on a decline, ever since it opened to a $0.35 gain in January, which lasted until early April. Since then, it had dropped to $0.3, losing the levels consistently. The Tether crash had also failed to keep it at the $0.3, where it sits closer to the $0.29 level.
As it appears, Bitcoin is more likely to make a surge than oil, gold, and real estate. Oil remained deeply plunged due to the world oil market's instability in growth; gold hasn't been making any significant growth in the past decade, while the stocks have only experienced moderate growth. Indeed, it seems now is the right time to join the BTC revolution.
