This morning the price of Bitcoin has passed $8K and still continues to raise up. The psychological level was lost on May 24. Since then the price dramatically fell down reaching the newest bottom at $5,785. The price reached the low of 2018 at the end of June. Then, bit by bit Bitcoin has overcome local lows and for the last week it performs intensive growth.
According to CoinMarketCap’s index of the most popular cryptocurrency the price hopped up by $400 in just a couple of hours and locked in $8 233 as of press time, showing about 45% growth since the year’s low. Data from the most well-known exchanges shows that the volume of BTC has at least doubled within the last 12 hours. Traditionally, altcoins began regaining momentum with a definite delay and for now, most altcoins are in a green zone.
Nevertheless, the first cryptocurrency is yet down about 53% from the high of the year – $17K that was last seen in January.
At the same time, exchanges perform the rapid and significant increase of BTC market capitalization over the previous two months. In the middle of May the first cryptocurrency accounted for 37% of the total market and now the dominance has increased up to 47% thus making Bitcoin as much dominant across the cryptocurrency market as in the end of December.