Bitcoin soars over $4,900 as the crypto breaks its 200 daily moving average

Bitcoin enjoyed its most bullish rally of 2019, seeing its price rise close to $5,000 for the first time since 2018, as per data from Messari. 

At last check the price of the world's largest digital currency rose from around $4,185 Monday evening to $4,960 just before 1:30 a.m. ET on Tuesday, trading up 14% over the last 12 hours. One analyst noted in a conversation with The Block that bitcoin broke its 200 daily moving average, a critical metric for technical analysts. At last check, the price of bitcoin was trading at $4,958, according to Messari data. 

Trading volumes have surged as well, as per data from CoinMarketCap. The data provider, which has come under fire for over reporting trading volumes, reported $44 billion in crypto trading hands, at last check — the highest level in months.