Bitcoin Hits 2019 High at $8,148.56

• Bitcoin Hits 2019 High at $8,148.56

Bitcoin rose to $8,148.56 a coin on Monday after trading around $3,300 for the most part of the first quarter.

The most dominant cryptocurrency plunged last year amid scams and price manipulations across the board.

However, better fundamentals and an okay regulation in the U.S and a few other countries have helped boost market sentiment and perception in recent months.

Last week, Fidelity Investments with a huge Wall Street clientele announced it would start offering Bitcoin trading as part of its institutional investment services. Similarly, online investment service, TD Ameritrade, has started offering stimulated bitcoin trading through Nasdaq. Suggesting that a full-fledged Bitcoin adoption might be underway.

A vocal market analyst, Mati Greenspan, believes the crypto market is at the early stage of an impending bull cycle. According to him, Bitcoin has been building momentum, but this is “in the early part of its cycle” adding that “right now we’re coming off that huge retracement and are only seeing a small rise.”

Bitcoin rose 14 percent on Monday to $8,148.56 a coin before slightly pulling back to $7,925.90 on Tuesday morning to bring its 24 hours gains to 12.61 percent.

The world’s largest cryptocurrency has risen by 150 percent in 2019.