Bitcoin Price Surges to $10,380 as Trump Threatens Military Crackdown

Bitcoin price broke the $10,000 barrier and rallied to $10,380 for the first time in 3 months.

Within the last hour Bitcoin (BTC) price abruptly surged to $10,380 after spending the last month trading in a symmetrical triangle pattern. The move above the crucial $10K mark occurred as U.S. President Donald Trump mobilized local police and the National Guard to disperse masses of protestors on the White House grounds. 

After a brief pullback to $10,100 bulls stepped in to provide renewed buying pressure. At the time of writing the top-ranked cryptocurrency on CoinMarketCap has broken above the long-term descending trendline ($10,250) which has been in place since Bitcoin reached a $19,800 all-time high in 2018. 

Crypto market weekly price chart. Source: Coin360

Altcoins also began to rally in response to Bitcoin moving back to $10,000 and many tokens in the top-20 rallied 3 to 5%.

Ether (ETH), the largest altcoin, advanced 6.64% to $250.68. Stellar Lumens (XLM) rallied 6.81%, and NEO gained 11.75%.

The total cryptocurrency market capitalization is over $284.2 billion at press time, with Bitcoin’s share continuing to grow at 65.9%.