The Crypto Market Is Bullish Today, Hits New 2019 High – Monero (XMR) Joins The Rally

This is one heck of a happy Sunday for the crypto space. A lot of crypto experts have been expecting Bitcoin (BTC) to hit resistance at $4,000 and then fall back again in a pattern that would repeat itself a lot this year.

But today, things are looking quite bullish, and BTC broke resistance, and it seems to have settled at the 200 moving average level at about $4,200.

Currently, BTC is trading in the green, and it’s priced at exactly $4,182.98 on CoinMarketCap.

This great move in the crypto market pulled all the other altcoins as well up to a brand new 2019 high in terms of market cap.

Ethereumworldnews reports that “are currently trading at their highest levels this year and at a market cap close to the Christmas Eve rally that took it to $146 billion. In the past 12 hours or so around $9 billion has been pumped into cryptocurrencies pushing markets to a 2019 high of $144 billion.”

The daily volume is all the way back over $30 billion once again after OKEx and Binance are the two leading exchanges with around a billion dollars in trade.

Monero (XMR) surges as well

Monero (XMR) is also trading in the green, and the privacy-oriented coin is priced at $56.34, and it’s up by more than 8%.

This could not come in a better timing considering that the token has been involved in all kinds of malicious attacks lately and its reputation has been hurt.

The crypto space is moving in the best possible direction in terms of price and especially in terms of crypto mass adoption.

There are a lot of moves in the crypto space that are supporting and triggering the mainstream adoption of digital assets.

The latest one is the fact that Facebook CEO Mark Zuckerberg is exploring the blockchain tech for users.

Facebook has about 1.52 billion daily active users and if the blockchain gets implemented this means huge Bitcoin and crypto exposure as well as the underlying technology of cryptos.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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