Market Update: Bitcoin Nears $13,000, Holds Record-Breaking 87-Day Streak Above $10K
In addition to BTC nearing the k zone, the cryptocurrency has stayed above k for 87 days straight which means the 62 day run in 2017 has been broken.
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A number of crypto proponents are attributing Wednesday’s bullishness to the Paypal news but also the number of firms joining bitcointreasuries.org as well. Furthermore, traders are eying bitcoin futures and options markets as well, as bitcoin options traders are prepping for big moves ahead.
Digital currency markets have increased a great deal during the last 24 hours as the aggregate crypto market capitalization is nearing 0 billion. The price of bitcoin (BTC) spiked on Wednesday morning after Paypal revealed cryptocurrency support during the morning trading sessions.
Cryptocurrency markets have seen intense gains on Wednesday after the payment processor Paypal announced it would be supporting digital currencies. At the time of publication, the market cap of all 7,000+ digital assets has gained 5.6% hovering above 9 billion during the afternoon trading sessions.
The fifth-largest market cap is held by bitcoin cash (BCH) and its markets have gained 7.1% on Wednesday. BCH is trading for 1 per coin and is up 22% for the last 30 days and 26.9% for the last year.
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On June 26, 2019, the bitcoin (BTC) ATH that day touched ,796 per coin. This means at today’s price of above ,800 per coin, BTC will need to gain more than 7.5% to surpass the June 2019 ATH.
Behind BTC, is ethereum (ETH) which has gained 6.9% during the last week as the coin is currently trading for 7 per unit. ETH is followed by tether (USDT) and XRP which is up 4.4% today at BTC has gained 7.1% during the last seven days and the price is close to touching k per coin. During the last 30 days, BTC is up 22% and over 76% year-to-date. At the time of writing, BTC is currently swapping for ,839 a unit.
No one’s quite sure where bitcoin and the rest of crypto markets will go from here but bitcoin (BTC) is inching toward a key macro level. BTC’s price is higher than it was in mid-August and slowly approaching the 2019 all-time high (ATH).
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