Back Above $4K: Bitcoin's Price Hits a Two-Week High
The price of bitcoin is trading above $4,000, its highest level in two weeks, a move that was backed by strong volume.
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The price of bitcoin, the world’s largest cryptocurrency by market capitalization, jumped 6.5 percent Sunday to rise back above $4,000, its highest point in two weeks.
CoinDesk data shows bitcoin’s (BTC) price spiked $262 on Monday at 17:10 UTC to $4,063, a move accompanied by a large injection of volume.
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At press time, bitcoin is up 5.95 percent over the last seven days, regaining losses seen toward the end of December.
Bitcoin’s market capitalization has also risen substantially, up $4 billion on the day to $70.73 billion, its highest point since Dec. 25. The move signals an expansion beyond the yearly low of $3,650 and an opportunity for the bulls to push higher this week, based on current price action and momentum.
The total market capitalization of all cryptocurrencies is up $6.1 billion from yesterday’s top of $132 billion and is currently sitting just above $138.1 billion CoinMarketCap data shows.
: The author holds no cryptocurrencies at the time of writing.
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