The price of bitcoin hit a 13-month high above $9,300 on Sunday.
The leading cryptocurrency by market capitalization rose to $9,381 at 05:55 UTC - the highest price since May 10, 2018, according to CoinDesk's Bitcoin Price Index.
More than $19 billion worth of bitcoin has been traded across cryptocurrency exchanges in the last 24 hours, according to Messari data.
Major exchanges included in the calculation of Bitwise's "Real" bitcoin trading volume are currently reporting the 24-hour volume figure at $867,697,751.
With the price rise, Bitcoin's dominance rate, or its share of the total cryptocurrency market, has ticked higher to 57.1 percent from lows near 55 percent see on Friday.
The bitcoin price rally is boding well for the broader market.
Names like ethereum's ether token, XRP and bitcoin cash are up 4 percent, according to CoinMarketCap.
Notably, with a move to 13-month highs, the cryptocurrency has retraced nearly 38.2 percent of the sell-off from December 2017 highs to December 2018 lows, as seen in the chart below.
As a result, the path of least resistance is to the higher side and prices could cross the 38.2 percent Fibonacci retracement hurdle of $9,442.
Bitcoin image via CoinDesk archives; charts by Trading View.
Above $9.3K: Bitcoin's Price Prints 13-Month High
gepubliceerd op Jun 16, 2019
by Coindesk | gepubliceerd op Coinage
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