The rally in the bitcoin registered in Tuesday's trade continued today and the new high of 2019 has been realized on the notion that the sudden rally looks sustainable. While there is no clear idea regarding the current surge in the cryptocurrency and market participants.
As per Bloomberg composite pricing, the token surged as much as 5.9% to $5,087.54 at 11:10 a.m. in Hong Kong. Also, other cryptocurrencies including Ether and XRP surged.
Enthusiasts in cryptocurrencies are of the view that a new bull market in such currencies has begun while bears hold the view that uncertaity among different marketmen including regulators, institutional investors and consumers is likely to render any surge in cryptocurrencies only temporary.