Bitcoin Price Climb back about $8,000 to reach 60-day high
24/07/2018 - Anh Duy
Bitcoin's price has climbed back above $8,000 for the first time in two months.
According to statistics from CoinMarketCap, the price of the world's largest cryptocurrency by market capitalization jumped by $200 in just two hours on Wednesday and is changing hands at $8,015 as of press time – that's a level not seen since May 23.
The price of bitcoin had been declining since May 23 and reached a new year's low at $5,785 on June 24, after which it started regaining momentum for a move back above $8,000, reflecting a nearly 40 percent increase since the June low.
BTC global trading volume is also rising in the direction of Bitcoin, which is currently $ 5.8 billion.
That said, bitcoin is still down nearly 53 percent from the yearly high above $17,000 seen in January.
Meanwhile, data shows that bitcoin's market capitalization dominance has also increased significantly over the past two months.
According to Coinmarketcap, Bitcoin accounted for 37 percent of the total cryptocurrency market capitalization in mid-May. Yet that data has increased to 47 percent as of press time, pushing bitcoin's dominance to a level not seen since late December.
At the same time, the top 10 of the top Cryptocurrencies are showing some encouraging signs. Ethereum, Bitcoin Cash and Litecoin also suddenly jump back as to respond to Bitcoin's recovery.
According to Coindesk
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