The crypto markets are continuing on their upswing[1] today, with Bitcoin[2] (BTC) over $8,500 and Ethereum[3] (ETH) approaching $600, according to Coin360[4] data.
BTC is currently up more than 3 percent[5] over a 24 hour period, trading at around $8,549. The last time BTC was at this price point was on March 25.
BTC dominance is also down today, to around 38.5 percent[6]. BTC dominance had been around 40 percent since March 1.
ETH is up around 10 percent over a 24 hour period, currently trading at about $591[7], a price point it had hit last on March 16.
Of the top ten coins on CoinMarketCap, Ripple[8] (XRP) is up the most, over 20 percent over a 24 period, trading at around $0.87 by press time.
Fundstrat’s Tom Lee[9] had tweeted[10] a poll two days ago on April 18, the day after US tax day, asking his followers what they thought BTC’s price would be in July of this year. Lee had previously predicted[11] that a massive crypto sell off before the April 17 tax day in America was what could have caused crypto’s slump[12] since the new year.
The results of the poll show that the majority of voters (Lee’s followers) see BTC as reaching above $12,000 by June, which Lee attributes to “Tax issue done” and “Major investor coming”:
CRYPTO POLL: Final tally (thank you for voting!)... 64% see #BTC >$12,000 by mid-year. While we have no baseline (is this contrarian or confirming), multiple and growing arguments
