Today, May 1st, on the first day of the new month, Bitcoin (BTC) came back to its uptrend behavior. More specifically, Bitcoin (BTC), the first cryptocurrency by market cap, reached $5.6K on Bitfinex, as the bull market entered into the new month.
Bitcoin (BTC) is a bull market at the moment
We already know that Bitcoin (BTC) reached its historical maximum in December 2017 when BTC hit around $20,000. However, 2018 was a bad year for the cryptocurrency market and Bitcoin (BTC), along with the other cryptos in the market, dropped significantly.
Bitcoin, for its part, ended the last year at $3130. Fortunately, 2019 started on a more optimistic note regarding the cryptocurrency market, and BTC, Bitcoin Cash (BCH), along with the other cryptos out there, began to rise. Last month, in April, more specifically on April 26th, Bitcoin dropped again as some very negative news about Tether (USDT) and Bitfines emerged on the Internet, referring to some potential illegalities the two entities conducted in 2018.
However, the effects of those bad news were not as harmful as expected. “If this Tether story broke in mid- to late-2018, the crypto market would probably have seen panic liquidations across the board. Another sign crypto winter is ending? I think so,” said Bitcoin (BTC) bull Tom Lee on Twitter.
Accordingly, the cryptocurrency market is not as unstable as it was in 2018, so a Bitcoin (BTC) bull market is now possible, and it seems that we already witness that.
Bitcoin (BTC) reached $5.6K on Bitfinex today
Earlier today, Bitcoin (BTC) hit $5.6K on Bitfinex crypto exchange platform, showing that the BTC market is bullish at the moment, as the beginning of the new month witnessed the bulls entering the crypto market.
However, it looks like Bitfinex is the only generous crypto exchange regarding Bitcoin cryptocurrency. On other exchange platforms, BTC is trading significantly lower.
For instance, Bitstamp sells Bitcoin (BTC) for $5350. Also, CoinMarketCap estimates BTC price at $5377, showing a slight 1.30% surge in the last 24 hours.
