Bitcoin price temporarily passed $10,500 on Aug. 26 as the largest cryptocurrency started the week in a bullish mood.
Data: blame margin traders for Bitcoin price volatility.
Data from Coin360 revealed an abrupt change from sideways trading over the weekend, Bitcoin gaining hundreds of dollars in minutes on Monday.
The latest action brings Bitcoin back to its position at last week's open, while monthly returns for investors have also come almost full circle at roughly 2.7% gains.
"Bitcoin is a coiled spring about to explode higher," RT host and regular Bitcoin bull, Max Keiser, tweeted about the price potential.
Keiser had previously claimed multiple times that the Bitcoin price was due to grow in line with increasing network performance.
On altcoin markets meanwhile, Bitcoin's shoot higher failed to produce copycat moves for most assets.
Ether, the largest altcoin by standard market cap, gained only 0.5% compared with Bitcoin's 2.7% over the past 24 hours.
XRP produced almost identical gains, while Bitcoin Cash and Bitcoin SV fared slightly better, moving up 2.2% and 1.2% respectively.
The overall cryptocurrency market cap stood at $269 billion on Monday, with Bitcoin accounting for 68.8% of the total.
Bitcoin Hits $10.5K in Minutes as Keiser Says Price 'About to Explode'
gepubliceerd op Aug 26, 2019
by Cointele | gepubliceerd op Coinage
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