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This article was published on May 3, 2019


Bitcoin price surges past $5,600 to set new 2019 high

... and its market cap is back above $100 billion

Bitcoin price surges past $5,600 to set new 2019 high
David Canellis
Story by

David Canellis

David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He's currently on the finance beat. David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He's currently on the finance beat.

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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