Bitcoin has pumped massively in the last couple of hours in its first notable rally of the year 2019, with the price of the coin at the time of writing 7.38% over yesterday’s price but, it had shot up by a total of 8.53% reaching a maximum of $3695. Brian Stutland, the CIO/CCO at Equity Armor Investments spoke to CNBC about Bitcoin’s first rally of 2019. Stutland said:
“I think it could be a beginning of a bigger rally, because when you look at the fact that if we move Bitcoin into an ETF, now portfolio managers that are out there can actually allocate to Bitcoin in their models and put that some sort of weighting in their holdings in terms of what people want to hold in terms of investment value.”
Bitcoin (BTC) is up 6.68% over the past 24 hours and is currently trading at $3,673.24 on Coinbase. BTC dominance is at 52.8% and the total cryptocurrency market cap is currently at $121.9 Billion.
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