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WBTC Price surges, Crypto Market Cap witness 2019 all-time high



It is an appropriate time to invest in the cryptocurrencies as the meltdown period is over and the WBTC price and other coins see a surge in their prices.

Currently, Bitcoin is trading around $5,247.30, Ethereum (ETH) has added 6.78 percent to its value, and XRP is trading around $0.358827, WBTC is trading around $0.4084.

Interestingly, the cryptocurrency is continuously rising and is almost touching the recent highs that were set earlier this month. The cryptocurrency has reached the mark of $5,300 at the beginning of the month. However, will this level be a region of resistance or not is still not clear?

A famous analyst named Crypto Thies recently tweeted his opinion on WBTC price. As per the analyst, the $ 5,500 will be the level of resistance that the Bitcoin will face in the coming time.

The sudden rise in the WBTC price started two weeks back due to high-volume buying spree. The Bitcoin surpassed the $5,000 mark for the first time since November 2018.

Why the Bitcoin price increased rapidly?

The Bitcoin halving event is considered the one reason behind this sudden rise. The event anticipated in 2020. The Bitcoin enthusiasts and traders would also like to see if the next halving event will see Bitcoin price reaching another all-time high. 

As per BitcoinBro’s CEO, Oliver von Landsberg Sadie, the main factor that has contributed to the Bitcoin Bull Run is an order worth around $100 million that is spread throughout exchanges, Kraken, Bitstamp, and Coinbase.
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