Bitcoin price (BTC/USD) briefly tops $13,000 on Wednesday morning
Cryptocurrency

Bitcoin price (BTC/USD) briefly tops $13,000 on Wednesday morning

Bitcoin price (BTC/USD) briefly tops $13,000 on Wednesday morning

The Bitcoin price (BTC/USD) has moved within striking distance of the $13,000 level after experiencing a sharp increase during the opening hours of today’s trading.

The original cryptocurrency had a positive trading session yesterday, especially during the morning, when its price surged to as high as $12,779.13. At that point in the session it seemed that BTC was preparing to test the $13,000 mark, but the coin pulled back in subsequent trading. BTC fell to as low as $12,233.26 in the afternoon, but eventually finished the day in the positive territory. Bitcoin closed the session at $12,573.81, up from its opening price of $12,284.33.

Bitcoin was able to maintain this positive momentum during today’s early trading, which helped it top the $13,000 barrier for the first time since June 27. The coin rose to as high as $13,018.77 during the opening hours of the session, but its spell above $13,000 has been a brief one. The coin has since retreated to lower levels and is currently hovering around the $12,900 level, according to data from digital currency tracker Coinmarketcap.

Bitcoin’s advance has been supported by strong market activity according to Coinmarketcap data. The coin’s daily trading volume reached $28.1 billion yesterday, which was significantly higher than the $23.5 billion generated in the preceding session. Meanwhile, some $29.3 billion worth of BTC coins have changed hands over the past 24 hours.

In addition, the Bitcoin dominance, an indicator that tracks BTC’s share of the total cryptocurrency market capitalisation, has reached its highest level in more than two years, which suggests that at the moment investors are interested in BTC, rather than the altcoin market.

In today’s trading, the Bitcoin price stood at $12,033.71, as of 05:37 BST. The digital currency has gained 2.1% in the past 24 hours. The coin’s total market cap currently stands at $230.3 billion, which represents 65% of the combined value of all digital currencies.

Featured image: Igor Batrakov / Shutterstock.com

More Resources

Add Comment

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.