Good news for the weekend – the Bitcoin price crossed the $6,400 on Friday after a surge in the trading volume which led to a significant price swing.
Even though the leading cryptocurrency was standing still at $6,000 most of the day yesterday (after dipping below that mark on Thursday), everything changed with a sudden spike in trading volume which moved the Bitcoin price from $6,000 to $6,100 and then $6,200 and $6,400 quickly.
This made the flagship cryptocurrency rise to as high as $6,400 where it is balanced right now. This is the highest mark for the Bitcoin price since June 25th, after a bad week full of declines.
Bitcoin currently has a market cap of $109.6 billion which is an increase of more than 6% in only 24 hours. More notably, this rally brought the Bitcoin’s weekly chart into positive territory. BTC is now up 1.18% over the past seven days.
Meanwhile, the total cryptocurrency market cap also recovered and is now sitting at $258 billion after declining as low as $232 billion during the intraday trading this Friday. That marks more than $25 billion increase which marks a truly positive incline.
Even though no one knows what triggered the rally, there is hope of the possibility of US regulators approving a Bitcoin ETF in the near future. Still, past denials have taught investors not to buy the rumors on discussions like these.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]