Bitcoin (BTC) Price Reaches Three-Week High Nearing $35K
Bitcoin, the world’s largest cryptocurrency by a significant margin, has been on a tear since it peaked above $20K back in November. The flagship cryptocurrency has been soaring on strong demand for its use in the online drug trade, as well as its use on illegal gambling sites. As a result, most every cryptocurrency has been seeing some strong growth over the past few weeks; Bitcoin has been the best performer.
Bitcoin, the popular cryptocurrency that set the cryptocurrency community ablaze in 2017, has had a good year. The BTC price rose to a series of record highs, and has continued through 2018 to trade at a premium over bitcoin cash and ethereum.. Read more about bitcoin breakout imminent and let us know what you think.
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News about Bitcoin
- The bulls took back control of the market, pushing Bitcoin to a three-week high.
- The market capitalization of Bitcoin has surpassed $650 billion.
The bulls regained control of the market, pushing Bitcoin (BTC) to a three-week high around $35,000. Furthermore, for the first time since May, BTC is trading above the barrier level. At the time of writing, the BTC is trading at $34,426.87, with a 24-hour trading volume of $20,328,608,436, according to CoinMarketCap.
Bitcoin, in particular, seems to be in risk of additional losses after falling below $30,000 earlier this week. Strategists, on the other hand, saw this level as a possible catalyst for further dumps. The BTC price spiked after Musk stated at the “The B Word” conference on Wednesday that he wants Bitcoin to thrive and that his space-exploration firm SpaceX Inc. owns some. Furthermore, Wood said that businesses should consider include BTC in their financial statements; nevertheless, Square Inc. The coin is durable, according to CEO Jack Dorsey.
Pankaj Balani, CEO of the Delta Exchange, said,
“We are seeing positive signals here for the first time in many weeks, and we anticipate Bitcoin to move toward the higher end of the $30,000 to $40,000 range.”
As a result, after dropping below $600 billion earlier this week, BTC’s market value has risen over $650 billion. Its share of the altcoin market has increased significantly to little over 46%.
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Bitcoin (BTC) is rallying at the moment. The price of a single Bitcoin (BTC) has reached an all-time high of $3,524.00, which is up by more than 11% over the past 24 hours. The latest rally has seen major cryptocurrency exchanges around the world signal the start of a new bull run.. Read more about can bitcoin hit $1 million and let us know what you think.
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