The last two months saw a bullish atmosphere for Bitcoin [BTC] and the rest of the cryptocurrency market, with most coins surging in value and market cap.

As Bitcoin hovers near the $9000 mark, many proponents in the field have supported claims that the world’s largest cryptocurrency might finally be out of its prolonged bearish trudge. Recent analysis suggests that BTC’s growth has been so significant that if the cryptocurrency closes May at a price over $8975, it will have recorded the largest monthly green candles since November 2013.

In November 2013, Bitcoin rose from $203.9 to close at $1156 on November 30, a spike that laid the foundation for Bitcoin’s massive spike towards the $20,000 mark. At the same time, Bitcoin’s market cap went up from $2.460 billion to $13.62 billion, which was more than a 500 percent increase.

Analyzing May 2019, one can see that the cryptocurrency started at $5350.91 on May 1 to close at $8755.85 on May 29. At the time of writing, Bitcoin was trading at $8732.07 with a total market cap of $154.828 billion. Crossing the $150 billion mark in terms of market cap was also considered as a big achievement for the ‘king coin.’ Bitcoin reached this mark this week after prices pumped by 11 percent, causing the price to rise from $7995 to $8939 in a matter of 7 hours.

Bitcoin also received another positive news recently after it was announced that the coin, along with Ethereum and BCH, can now be used to pay bills in Australia. Jess Renden, Operations Manager at Cointree said,

“Using cryptocurrency to pay bills is a feature that our users have requested for some time. Our members were looking for an easy and safe way to use cryptocurrency because they recognize the enormous utility for both personal and business transactions.”

The post Bitcoin [BTC] can enjoy its largest monthly green candle since November 2013 if uptrend continues appeared first on AMBCrypto.

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