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

Bitcoin • April 2, 2019, 1:30AM EDT
UPDATED: April 2, 2019, 1:35AM EDT
The Block

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. 

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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. 

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Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

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