Cryptocurrency prices continued to rise during trading on Wednesday, led by Bitcoin which extended its gains, amid hopes of reaching a trade agreement between the United States and China and ending the trade war.
Bitcoin has witnessed a strong upward wave as it approaches the $110,000 level, amid investor optimism that is clearly reflected in the total market value of the cryptocurrency market.
Bitcoin's price is currently testing significant resistance within a range of $104,842 to $109,248, amidst clear buying momentum.
Bitcoin is expected to reach the resistance level at $113,000, but this largely depends on continued demand from long-term investors, particularly from "MicroStrategy," and the joining of "Pelagia Hartford," which recently announced the purchase of Bitcoin worth $500,000 at a price of $102,000 per unit.
During today's session, Bitcoin recorded an increase of about 0.21% to reach a price of $109,784, remaining close to its all-time highs.
The market value of the most popular cryptocurrency in the world has stabilized at $2.18 trillion, while the trading volume over the last 24 hours has decreased to $54.42 billion.
On a weekly basis, Bitcoin has managed to add about 3.93% to its value.
Regarding the prices of other cryptocurrencies, the price of Ethereum has risen by 3.91% today to reach $2,792, and the price of Binance Coin has increased by about 0.89% to $669.80.
The price of Cardano has increased by 1.73% to be traded at $0.7182, while Ripple recorded an increase of about 0.04% to reach $2.2995.
The price of Dogecoin has risen by 2.19% to reach $0.197932.