Bitcoin price update May 2019 | above $8,000

Bitcoin prices: May 2019

In a matter of 24h, bitcoin broke a host of resistance lines and crossed the $8,000 mark, where it currently stands.

This seems like a real warm spring to crypto. After a great first week, the second week of May has seen bitcoin reach a peak of $7,400, and stabilising at around the $7,000 mark as investors consolidated their profits. Have the bulls finally taken over? 

Last week, bitcoin has shaken off from the long crypto winter. Between April and May, prices have gone up more than 20%, appreciating more than $1,000 - from around $5,200 to currently $6,340.

As it usually happens during bitcoin bull runs, altcoins are lagging behind in comparison. BTC dominance is currently at 59%. Here's a portrait of last month's bitcoin steady climb:

Bitcoin from May 5 to May 13
Bitcoin from May 5 to May 13. Source: Coinmarketcap

Bitcoin prices: April 2019

Bitcoin prices have substantially increased for the second day in a row. However, while the biggest cryptocurrency added more than 5% value, Bitcoin Cash (BCH) was the biggest earner peaking at more than 50% in the past 24h, followed by Litecoin (LTC) with over 20% gains at the time of publishing.

BTC surge chart on Coinmarketcap
BTC surge: Coinmarketcap chart

Bitcoin Cash, currently the 6th cryptocurrency per market cap, hasn’t seen its value above the $200 mark since November, after the hard fork that split the currency in two. BCH surged past a series of resistance levels and is currently trading around the $250 mark.

BCH surge chart on Coinmarketcap
Bitcoin Cash's incredibly bullish run

After a 15% surge on the 2nd of April, the biggest cryptocurrency managed to keep its ascending trajectory for a second day with more than 5% gains, even managing to cross the $5k mark for the first time since November. 

According to Reuters, the gains were likely triggered by around $100 million worth of orders spread across US-based exchanges, namely Coinbase and Kraken, as well as European exchange Bitstamp.

Also noteworthy, Litecoin’s steady trajectory has seen the “silver standard to BTC’s gold” add over 100% value in the first quarter of 2019, and around 20% on the day - a spectacular performance by any measure.

Claim your Bitcoin Cash on Cloudbet

Bitcoin Cash’s stellar performance is great news for players who were eligible to claim BCH during the 2017 fork, but still haven’t done so. Since May 2018, Cloudbet are crediting users who had BTC deposited during the 2017 hard fork with the equivalent amount of BCH.

As prices continue to climb, this is the perfect excuse for players to login and claim their funds - and perhaps make them grow even further. 

Best time for bitcoin betting

Moreover, with the crypto markets picking up steam, bitcoin and bitcoin cash bettors have all the more reason to celebrate. The benefits of betting with bitcoin becomes even more evident as crypto consolidates and grows. BCH bettors made over 40% returns in a matter of hours - and that was even before placing a single bet! Not bad for a night’s sleep.

Markets are unpredictable, and there might as well be a price consolidation as investors lock in profits. However, this may be a sign that the long crypto winter is perhaps giving way to a warmer crypto spring. That is our bet.

Cloudbet is one of the first bitcoin sportsbook and casino operators in the crypto space. We have hundreds of bitcoin slots and dozens of table games to play, with free play options to try before you buy in our bitcoin casino. You can also read more on betting strategies, bitcoin 101, and in-depth crypto stories here in the Cloudbet blog

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