Bitcoin prices surged higher on Tuesday, rising as much as 20% at trading above $5,000 for the first time in since November 2018.
The market value of all cryptocurrencies rose more than $15 billion in less than 90 minutes on Tuesday, according to data from CoinMarketCap.What are analysts saying After months in the doldrums, bitcoin aficionados have awakened with several now calling the December 2018 low near $3,200 as a medium term bottom.
“I believe bitcoin will now move higher over the next few weeks and months, making steady gains for investors. As the largest cryptocurrency by market cap, this will have a positive impact on prices in the wider crypto sector,” Green wrote. Bitcoin futures opened sharply higher on Tuesday. The Cboe April contract XBTJ9, +16.48% gained 16.5% to $4,805 and the CME April contract BTCJ9, +16.36% added 16.3% at $4,795.