Cryptocurrency
Cryptocurrency
Bitcoin price (BTC/USD) retakes $8,700 after slow Thursday start
The Bitcoin price (BTC/USD) has edged higher on Thursday despite having to overcome some slow early trading.
The original cryptocurrency had a poor start to yesterday’ session, with its price plunging to as low as $8,482.73 in early trading. However, the coin managed to rebound in subsequent trading, which allowed it to temporarily recapture the $8,700 mark. BTC hit an intraday high of $8,755.85 in the afternoon, but eventually finished the day at $8,659.49. This was slightly lower that the coin’s opening price of $8,718.59.
Bitcoin has followed a similar pattern so far in today’s session. A couple of early drops brought the coin’s price down to an intraday low of $8,597.12, but the coin has managed to bounce back in more recent trading. At the time of writing, the Bitcoin price was hovering around the $8,740 mark, according to data from digital currency tracker Coinmarketcap.
Monthly gain
Having risen to a fresh 2019 high of $8,907.17 on Monday, Bitcoin is now experiencing a bit of a pause, with its price seemingly unable to leap over the next major barrier. On the bright side, the digital currency remains comfortably above the $8,300, which, until recently, served as a major source of resistance. BTC also appears to be firmly set to post its fourth monthly gain in a row, which would be its longest monthly winning streak since August 2017. Having started the month at $5,350.91, the coin has gained more than 63% over the past 30 days. The coin has more than doubled its value since the start of the year.
In today’s trading, the Bitcoin price stood at $8,751.54, as of 11:35 BST. The digital coin has gained 1.3% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $155.17 billion, which represents 55.3% of the combined value of all digital currencies.
Featured image: Allexxandar / Shutterstock.com
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