The price of BTC has exploded in the last 12 hours en route to a coin value of $6,465 – a sharp and swift 10.8% growth on the price of $5,835 recorded earlier in the day.
The price has since levelled out around the $6,420 mark, but continues to push upwards in spurts. Today’s price movement means Bitcoin has made net gains for the week – a phenomenon not witnessed since the first week of May.
Yesterday’s Ethereum analysis suggested that we had hit a breaking point – either the point at which the market can sink no further; or the point where we realise the entire enterprise is doomed. At the time of writing, the total 24 hour volume for the crypto market stands at $3 billion higher than it was yesterday at just under $15 billion; and all the coins under Bitcoin are being floated by the rising tide.
Indeed, Bitcoin’s price gains in the last day, while noteworthy, actually pale in comparison to some of the other green percentages popping up right now. In the Top-10 alone, Bitcoin Cash (BCH) has seen 16.5% gains; while Cardano (ADA) recorded 20% gains earlier today, before that number levelled out at around 16%.