Bitcoin (BTC) Market Cap Climbs Over $360M, Showing Bullish Trend

Bitcoin continues to grow with a market capitalization of over $360 million; showing a bullish crypto market trend.

BTC market cap spikes over $360M

Since its creation in 2009, Bitcoin has managed to resist all the cryptocurrency market trials and volatility. Bitcoin manages to stay as the number one cryptocurrency in terms of market cap with over $360 million.

Globally, Bitcoin ranks as the sixth most valuable currency. Despite the global COVID-19 pandemic, BTC has even grown its price to over 160% in the last 12 months. According to CoinGecko, the BTC price is at $19,462, at the time of writing.

BTC/USDT shows great performance in the past few days. If this continues, the crypto can be seen to run along with the bulls in breaking the resistance level of $19,683.2, which can lead towards a high price of $20,000.

On the contrary, if the BTC price fails to maintain its position with the bulls, the crypto might break out its bullish position and fall down along with the bears at the support level of $17,585.9. In this case, the crypto must find a way to recover quickly.

Because if not, Bitcoin price might fall even more. Furthermore, analysts predicted that Bitcoin could reach more than $100,000 in 2024. This is due to the successful Bitcoin halving event that occurred in the earlier years.