Home CryptocurrencyBitcoin Bitcoin, Q2 at a glance: Technical Analysis and Important News/Events

Bitcoin, Q2 at a glance: Technical Analysis and Important News/Events

by icosuccess
, Bitcoin, Q2 at a glance: Technical Analysis and Important News/Events

INTRODUCTION

The cryptocurrency space experienced many activities in the second quarter of 2019 with Bitcoin (BTC) apparently leading the charge in most frontiers and showing much stability in the quarter. Bitcoin (BTC) prices rallied by roughly 245.0%, a first since the crypto winter of 2018.

Q2 saw the mining difficulty of Bitcoin go up by over 11% in May, a then all-time high for the network. Meanwhile, the hash rate continued to rise firmly over the quarter, reaching record-breaking peaks in June. Bitcoin has had one of the most influential quarters yet, with its market dominance reaching a high it has not seen since 2017.

These events, among a host of others, make up the summary of BTC’s activities in Q2-2019. Below we shall look at some of these significant events and technical chart patterns driving the Bitcoin price.

PRICE RALLY

Q2 saw a Bitcoin record price rally akin to its rally in 2017 that a historical high of $20,000. This time, however, the price of BTC surged above $8,200, an event that surprised many traders and suggested that the bear run was finally over.

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