The crypto market has been surging this week and Bitcoin (available on Coinbase) price continues to pull up, breaking through resistance to establish a new 2019 high. Its market capitalization is increasing, reaching around $180 billion.

Bitcoin (available on Coinbase) Breaks Resistance

According to TradingView, Bitcoin (available on Coinbase) surprised many in the past week after breaking resistance and surging to $5,640. In the last trading session, Bitcoin (available on Coinbase) price gained 4%, surging from $5,480 to $5,640. A crypto asset trader who is known as “Crypto Rand” has indicated that Bitcoin (available on Coinbase) is likely to increase to $6,000 based on the recent performance in April.  In April, crypto traders were optimistic about the price of Bitcoin (available on Coinbase) following its rally in the first week of the month when it surged 20% against the dollar.

Most traders were skeptical about the momentum of the crypto market and if it could be sustained in the short term considering that both Bitcoin (available on Coinbase) price and other cryptocurrencies in the markets had large gains at the start of the month.

Other Cryptos Follow

Although Bitcoin (available on Coinbase) price is headed for new 2019 highs, Ethereum (available on Coinbase) has, on the other hand, experienced a slower momentum, gaining minimally below $175. But with BTC climbing, ETH’s momentum is also likely to grow, and Ethereum (available on Coinbase) will benefit from the current healthy momentum that Bitcoin (available on Coinbase) is enjoying.