Market Watch: Bitcoin Eyes $10,000 as Bulls Take Control

The crypto market has been in a euphoric mood for ten heavenly days after Bitcoin surged past the $8,000 resistance level, climbing to a new 2019 ATH of above $9,500. The world’s largest cryptocurrency by market cap is now targeting the $10,000 mark, with its price at the time of writing hovering around $9,700 – $9,720.

Bitcoin’s rally is also pushing altcoins further upward, as we can see lots of profits spreading across the market. The industry’s total market cap is currently $299 billion and on the verge of breaking $300 billion.

Leading altcoin Ethereum has also hit its 2019 ATH of $284, with the $300 level within sight. XRP, on the other hand, isn’t recording massive gains like most of the top ten coins, but the altcoin has charted a 1.60% profit on the day with its price currently floating around $0.437.

The total market cap is ~$299 billion | Bitcoin’s market cap is ~$172 billion | BTC dominance at 57.7%

Major Crypto Headlines

Bank of America CEO: With the Rise of Cryptocurrencies, We Want a Cashless Society. The CEO of the largest bank in the US has voted in favor of digital currencies, acknowledging that there is a need for a cashless society as the banking industry continues to adopt digital and tech-enabled models.

Using Ripple’s tech is five times more expensive than Western Union’s present system, says CEO Hikmet Ersek. While many believe that Ripple is one of the cheapest settlement and remittance systems, the CEO of Western Union claims that their tests on Ripple Labs show that sending money with the tech is more expensive than expected.

Riviera Beach City Council Agrees to Pay $600,000 in BTC to Ransomware Attackers. Hackers will be receiving more than half a million dollars in BTC as a ransom to release stolen data from the city council of Riviera Beach, Florida.

Most Significant Winners and Losers

MMOCoin (495.42%)

MMOCoin traders and investors will no doubt be feeling over the moon as MMO has shot up by more than 490% within the last couple of hours. The coin, which started today’s trading session with prices as low as $0.002, is now trading at $0.0125 with a market cap of $731,802. With no significant announcement having caused the sudden and massive pump, a correction could be around the corner.

Qredit (403.70%)

The last few hours were also massive for Qredit (XQR). Over the previous 24 hours, the XQR price rose 403% against the dollar. At the time of writing, the coin was trading at $0.00637 with its market cap hovering around $3,451,971.

AIDUS TOKEN (-64.89%) (AID)

Everyone cannot be happy at the same time, even in the crypto market. AIDUS token (AID) emerged as the most significant loser of the last 24 hours despite all the profits in the market today. AID is down by 64% against the dollar and is currently trading at $0.0069 with a daily volume of $640,616.