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Bitcoin Pushes Past 19.4K

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How high can bitcoins price go? Analysts say the higher the price, the more investors will plow in. Meanwhile, increasing ether options volume on Deribit is likely making derivatives more expensive.

Bitcoin BTC trading around 18,987 as of 2100 UTC 4 p.m. ET. Gaining 3.2 over the previous 24 hours. Bitcoins 24hour range 18,05919,392 BTC below its 10day moving average but above 50day, a sideways signal for market technicians.

Bitcoins price broke above 19,000 Tuesday, hitting as high as 19,392, according to CoinDesk 20 data. Its price lost some steam after but rebounded to 18,987 as of press time.

We could test an alltime high today, said Rupert Douglas, head of institutional sales for crypto broker Koine. We have had such a strong runup that Id be looking to take profits.

Bitcoins record price high was 19,738 back on Dec. 18, 2017, according to CoinDesk 20 historical bitcoin data.

At over 1.6 billion as of press time, momentum in the form of USDBTC volumes on five combined major exchanges is set for another banner day. Tuesday is shaping up to be the second highest in the past month as billiondollar volume days for the five exchanges are becoming more common.

An optimistic economic environment has given both stocks and bitcoin riskon properties as investment assets.

Analysts expect 20,000 per 1 BTC to arrive soon, which could produce some profitinduced selling but also more bullish buying, according to Rich Rosenblum, head of trading at crypto firm GSR.

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