NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Price Crosses $7,500 to Establish Fresh 2019 High

Davit Babayan
Davit Babayan
1 year ago
2 mins read
bitcoin crypto

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The bitcoin price has jumped above $7,500 to discover its fresh yearly high.

The world’s largest cryptocurrency established $7,568.32 as its new session peak, bringing its year-to-date net rebound up to 140 percent on San Francisco-based Coinbase exchange. The broader cryptocurrency market tailed bitcoin’s uptrend, with a majority of top assets posting double-digit gains, including Bitcoin Cash, Litecoin, EOS, and Ethereum. Even Bitcoin SV, which lately faced trading ban at several cryptocurrency exchanges, saw a 10 percent appreciation in the last 24 hours.

What’s Driving Bitcoin Bulls

bitcoin
Bitcoin Establishes New 2019 Highs above $7,500 | Image Credits: TradingView.com

Bitcoin’s continuous climb to $7,500 came in the wake of improving buying sentiment and technical forecasts. Fidelity Investments, a Boston-based asset management firm with a vast Wall Street clientele, announced last week that it would add bitcoin trading to its list of institutional investment services. At the same time, online investment service TD Ameritrade started offering stimulated bitcoin trading through Nasdaq, raising hopes that a full-fledged bitcoin adoption was underway.

Meanwhile, technical data continued to identify the end of bitcoin’s most prolonged bearish phases after the asset formed a low in $3,100-3,200 range on December 15, 2018. Momentum indicator Stochastic RSI, for instance, rebounded from its oversold territory for the first time since February 2018 on monthly charts. The move identified a trend shift, meaning that the market was eyeing an extended bitcoin price recovery in the future.

$BTC Stoch RSI currently at 2015 pre bull run level (33) and should enter
"overbought" territory in about 1 or 2 months.

Last time it lasted 2 years from $300 to $19K. #bitcoin pic.twitter.com/mhezb6YL85

— Galaxy (@galaxyBTC) May 10, 2019

At the same time, bullish analysts continued to strengthen their long-term upside targets following the Golden Cross formation. The technical chart pattern held a historical significance in the bitcoin market for shooting the price from $300 to $20,000 in 14 months. The latest Golden Cross formation too prompted a bitcoin uptrend which, as bulls believed, would lead the price beyond $20,000 by the end of this year.

A significant investment firm was also studying bitcoin’s old price behavior to understand its next move. Vancouver-based Canaccord Genuity found that bitcoin could continue its bull trend over the next 24 months. The firm expected the cryptocurrency to retest $20,000 due to next year’s Halving event, which would reduce the current bitcoin supply by half.

“Now four months into 2019, we note for the third time the striking similarity in bitcoin’s price action between 2011-2015 and 2015-2019,” Canaccord said in a note. “While this simple pattern recognition has a little fundamental basis, we note that bitcoin does operate on a four-year cycle of sorts, as the halving of bitcoin’s mining reward occurs approximately every four years.”

Near Term Targets

The bitcoin price was now eyeing the $7,785-8,602 range as its next potential bull target. The said area had adequate reversal sentiment, given its ability to cap small uptrends between April and July 2018. A pullback at any given level could push the bitcoin price violently towards interim supports, the nearest one being at $7,000.

Tweet123Share196ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Price Gathers Strength

Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

Ethereum price started a fresh increase above the $2,450 zone. ETH is now back above $2,550 and might soon aim...

Aayush Jindal 1 hour ago
Dogecoin

Dogecoin Bounces Back With 8% Gain—Is $0.26 In Sight?

Dogecoin has observed a rebound from the support line of a Parallel Channel. Here’s where the next target could lie,...

Keshav Verma 1 hour ago
Bitcoin Price Coiling Up

Bitcoin Price Coiling Up — Is a Surge Past $110K on Deck?

Bitcoin price started a fresh increase above the $107,500 zone. BTC is now consolidating and might struggle to continue higher...

Aayush Jindal 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP Price Recovery Fades

XRP Price Prepares for Possible Bounce — Support Levels In Focus

Aayush Jindal 39 minutes ago

Under Stress: Tron Revenue Drops As Nearly $190M Flows Out

Christian Encila 48 minutes ago
青色のプレゼントボックスの上にあるBTC

Bitunixボーナスキャンペーン開催中|最大710ドルの獲得手順

rinsuzuki 20 minutes ago

Premium Sponsors

Press Releases

  • Top kryptoměna ke koupi dříve, než vzroste o 2 200 %, podle Cathie Wood

    Top kryptoměna ke koupi dříve, než vzroste o 2 200 %...

    6 hours ago
  • The smartest way to make money in 2025: Invest in cloud...

    13 hours ago
  • Od Bitcoinu k BTC Bull: Kde leží skutečný potenciál?

    ...

    13 hours ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    13 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    13 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.