The Bitcoin price (BTC/USD) has moved within striking distance of the key $8,000 mark amid a wider cryptocurrency upswing.
Despite seeing some positive price action yesterday, the original cryptocurrency had a few setbacks during the day, which prevented it from making meaningful progress. The coin made a couple of attempts to recapture the $7,900 mark and even rose to an intraday high of $7,937.34 during the late morning session. However, its gains were quickly erased in the afternoon when its price fell to as low as $7,571.47. Still, the coin managed to rally in the final hours of the session and finished at $7,822.02, slightly higher than its opening level of $7,819.63.
Bitcoin continued its advance in the early hours of today’s trading and was able to top the $8,000 mark for the first time in three days. The coin rose to as high as $8,014, before pulling back to slightly lower levels. At the time of writing, the Bitcoin price was hovering around $7,990, according to data from digital currency tracker Coinmarketcap.
Market upswing
The wider digital currency market is also experiencing relief following the steep correction seen during the Monday and Tuesday trading sessions. Most major altcoins, including the Ether (ETH), Bitcoin Cash (BCH) and EOS, have seen modest gains over the past 24 hours. Litecoin (LTC) has been the stand out performer in the crypto top 10, having gained more than 8% over that period. XRP has also seen a solid price increase of 4.4%.
In today’s trading, the Bitcoin price stood at $7,991.97, as of 11:25 BST. The digital coin has gained 1.7% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $141.8 billion, which represents 55.5% of the combined value of all digital currencies.
Featured image: chanchai howharn / Shutterstock.com
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