Bitcoin’s price has pushed past $5,600 to set a new 2019-high for the third time in less than a month.
The rally comes despite recent confirmation that the world’s most popular stablecoin, Tether, is not completely backed “one-to-one” with cash.
Bitcoin’s market cap has also exceeded $100 billion for the first time since November as a result of the pump.
Even though we’re at a new high for 2019, the price of Bitcoin is still very much below its recorded peak from the past 12 months. Indeed, on May 5, 2018 (almost one year ago), Bitcoin traded for close to $9,800.
Yesterday, cryptocurrency analysts Delphi Digital confirmed they still believed the Bitcoin bear market is over. I guess the market thinks so, too.
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