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Bitcoin price breaks above $4,000 amid Samsung Galaxy S10 crypto wallet rumours

Latest market surge comes one day before the anticipated release date of the iPhone rival

Anthony Cuthbertson
Tuesday 19 February 2019 18:23 GMT
What is cryptocurrency and the technology behind bitcoin and its rivals?

The price of bitcoin has broken above $4,000 for the first time since early January, as cryptocurrency markets continue their recent surge.

The latest gains come amid rumours that Samsung is planning a cryptocurrency wallet in its forthcoming Galaxy S10 range of smartphones, set to be unveiled on 20 February.

In January, a leaked photo of the iPhone rival suggested the handset will come with an in-built cryptocurrency wallet that support both bitcoin and ethereum.

Several other smartphone makers have included in-built cryptocurrency wallets in their phones, such as the HTC Exodus and the Sirin Finney.

If the South Korean electronics giant features a wallet, it could signal a major shift towards such technology being standard on smartphones, helping cryptocurrencies achieve mainstream adoption.

Market experts say the latest gains are the result of increased positivity surrounding cryptocurrencies in recent days.

“These gains are clearly creating a wave of optimistic sentiment throughout the crypto community, with market volume up by $8 billion in the last 24 hours," Mati Greenspan, senior market analyst at the online trading platform eToro, told The Independent.

"Market volume is now above $36 billion and we haven’t seen these levels since April 2018. But, until Bitcoin breaks above the much-needed psychological level of $5,000, the bear market is still very much in play.”

Samsung is expected to confirm the cryptocurrency wallet feature at its Unpacked event this week.

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