Following a slight correction below to $12,980, Bitcoin (BTC) has once again started rising up as the top-ranked digital currency has surpassed the crucial level of $13,600 by gaining more than 5 percent in the past 24 hours. The price value of the coin surged as high as to reach $13,650. It has now become the new highest value of the coin for this year. Following this price surge of Bitcoin, the famous altcoins Ethereum (ETH) and XRP have also shown an upward movement.
Bitcoin breaks another crucial resistance
Earlier today, an upward movement was noted in the trend line of Bitcoin which led the coin to successfully retest its critical resistance of $13,300. After jumping above this price level, the price value of the coin continued to go higher and has broken its next crucial resistance of $13,600 easily. The price of BTC is still up by more than four percent in the last 24 hours and is standing at above $13,620, at the time of writing.
This price surge has occurred following the news that the largest retail and commercial bank of Singapore DBS Bank is launching a cryptocurrency exchange called “DBS Digital Exchange” and will add trading support for the top four digital currencies such as Bitcoin, ETH, XRP, and BCH.
Not only the top-ranked cryptocurrency Bitcoin’s price reacted to this news and surge high but the other two popular altcoins Ethereum (ETH) and Ripple’s XRP have also witnessed a slight increase in their price values. Before this news of DBS Bank, the price of ETH was standing below the $400 mark. However, now it has found a breakthrough at this critical level. At the press time, it is standing at around $407 with a change rate of over three percent in the past 24 hours. While on the other hand, Ripple’s native digital currency XRP was holding at around $0.24. But now with a price gain of approximately 1.5 percent in the last 24 hours, it has once again jumped up to the $0.25 level where it is residing at the moment.
Can Bitcoin break through the $14k resistance?
As Bitcoin is rapidly going higher at the moment, it seems possible that the leading digital currency can claim this resistance. If the current extremely bullish sentiment remains to continue over the coming days, the $14k breakout will become imminent.