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Bitcoin price tops $4,000, bull run incoming?

On Saturday, March 16, the price of the most popular cryptocurrency, Bitcoin, topped $4,000 for the third time this year. Oldest digital currency price is up by more than 3% in the last 24 hours.

The BTC/USD pair rose early Saturday and it could potentially signal a long-awaited new bull run. A recent price analysis by Omkar Godbole of Coindesk also suggests that a rapidly growing Bitcoin trade volume could play a vital role in the next breakout.

Just in a few days, starting from Thursday, March 14, Bitcoin market capitalization rose from $69,007,321,618 to $71,306,562,934 on Saturday morning.

However, the critical resistance zone of $4,200 is yet to be tested. If Bitcoin (BTC) will fail to rise above this price point, we could see the leading cryptocurrency falling back again to the $3,800-$3,900 price range.

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The second largest cryptocurrency by market cap, Ethereum, is also up by more than 6% and is currently trading at $143.38, Coinmarketcap data shows.

HOLO (HOT) token remains the top gainer in the last 24 hrs. The price of HOT token has risen by nearly 20%, accroding to the data from Coinmarketcap.

Bitcoin Cash is the top gainer among the top 10 cryptocurrencies. On Saturday, March 16, BCH coin price jumped up by more than 16%. At press time, BCH/USD pair is trading at $157.49.