The price of bitcoin, the world's largest cryptocurrency by market capitalization, jumped 6.5 percent Sunday to rise back above $4,000, its highest point in two weeks.
CoinDesk data shows bitcoin's price spiked $262 on Monday at 17:10 UTC to $4,063, a move accompanied by a large injection of volume.
At press time, bitcoin is up 5.95 percent over the last seven days, regaining losses seen toward the end of December.
Bitcoin's market capitalization has also risen substantially, up $4 billion on the day to $70.73 billion, its highest point since Dec. 25.
The move signals an expansion beyond the yearly low of $3,650 and an opportunity for the bulls to push higher this week, based on current price action and momentum.
Still, bitcoin is just one of many cryptocurrencies enjoying strong upside momentum with litecoin, NEO and Cardano leading the top 25, up 12.16, 10.6 and 9.11 percent respectively.
The total market capitalization of all cryptocurrencies is up $6.1 billion from yesterday's top of $132 billion and is currently sitting just above $138.1 billion CoinMarketCap data shows.
The author holds no cryptocurrencies at the time of writing.
Back Above $4K: Bitcoin's Price Hits a Two-Week High
gepubliceerd op Jan 7, 2019
by Coindesk | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.