Bitcoin Leads Weekend Crypto Rally, Jumps Above USD 9,000

Source: iStock/da-kuk

A steady growth over the weekend, pushed bitcoin price above the USD 9,000 level, while majority of other largest coins by market capitalization are registering smaller gains.

Bitcoin crossed USD 9,000 on Sunday morning and is now (4:55 UTC) trading at around USD 9,010. The last time the market saw this price level was on May 31, when bitcoin held above this level for 10 minutes before crashing below USD 8,200 in a few hours.

Now, the recent rally started from the same USD 8,200 on Friday, pushing the price around 10%.

Bitcoin is up by more than 4% in the past 24 hours, 14% in the past week and more than 21% in the past month.
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Bitcoin price chart:

Bitcoin Leads Weekend Crypto Rally, Jumps Above USD 9,000Source: coinpaprika.com

Jeremy Allaire, CEO of a major crypto company, Circle, recently estimated that bitcoin price will surpass USD 10,000 by June 21, "marking start of Crypto Summer."

"Crypto market rallying (again) ahead of Libra Facebook’s digital token project] launch, marking a massive inflection point in global adoption of cryptocurrency," he said.

Meanwhile on Sunday, among the top ten coins, only EOS registered slightly bigger gains in the past 24 hours, rising by 4.58%.

Ethereum price is up by 2.50%, while only Bitcoin SV registered a small loss.

Top 10 coins by market capitalization:
(4:55 UTC)

Bitcoin Leads Weekend Crypto Rally, Jumps Above USD 9,000Source: coinpaprika.com

Overall, the total market capitalization increased by more than 3% in the past 24 hours, surpassing USD 283 billion, or the level last seen in July 2018. Bitcoin dominance, or percentage of the total market capitalization, increased from the recent 55% to more than 56%.

Among smaller capitalization coins, Nash Exchange and Grin registered the biggest gains (18% and 16% respectively). While more than two dozen other altcoins are in red today.

Reactions:

Taking a step back, with $BTC #bitcoin at new 2019 highs, don’t those old highs look like a few FOMO days away?

Crypto winter is over… pic.twitter.com/1neKiEzaFA

— Thomas Lee (@fundstrat) June 16, 2019

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Fomo at $10k

— Thomas Lee (@fundstrat) June 16, 2019

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If you bought $BTC a year ago
You're not rekt anymore pic.twitter.com/voLuvT5yCw

— ⛏Crypto Christopher Walken🥃 (@cryptochrisw) June 16, 2019

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This looks like Parabolic.exe will be initiated again pic.twitter.com/o5m3MV8edI

— CryptoTutor (@CryptoTutor) June 16, 2019

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Institutions, Halving, Adoption
Institutions, Halving, Adoption
Institutions, Halving, Adoption
Institutions, Halving, Adoption
Institutions, Halving, Adoption

The new BTC rally is clearly on its way
Last rally did 100x from its lows

Will this one take the price to $300k?

— George Kikvadze ⚡ (@BitfuryGeorge) June 16, 2019

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They will be fine. Just wait and chill

— DaddyD (@littledevil456) June 16, 2019

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It's bursting. No idea where this will end short term but as long as alts are trailing behind, we're going higher. Will update once alts start pumping to prepare for crash. 🍻🚀 #bitcoin pic.twitter.com/dDoPKTcBk4

— A v B (@ArminVanBitcoin) June 16, 2019

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