Bitcoin (BTC) today exceeded $ 7,000. With that, the king of the cryptocurrencies has left the narrow borders within which he has been traded in recent weeks. At the same time, Bitcoin has broken such an important frontier, as the cryptocurrency has still not recovered from the recent slump.
At the same time, Bitcoin's market dominance at the time of going to press was 53 percent. With that, Bitcoin controlled about $ 121 billion of the total market capitalization of $ 228 billion.
As recently as last week, the coin had a value of approximately $ 6,400. The sideways movement continued and the price fluctuated between $ 6,300 and $ 6,700, similar to the price after the August 8 crash.
On August 22, there was a short peak at $ 6,800, but it slumped the course on the same day back to the starting level of 6,400 USD. This coincided with news that BitMEX had been the victim of a DDoS attack. Such a “distributed denial of service” attack is a cyberattack aimed at causing a service to collapse through mass requests. By attacking BitMEX, many platform users lost money because they were unable to complete important trades in time.
It's almost # bitcoin 😎
– Alistair Milne (@alistairmilne) August 28, 2018
Bitcoin crash is followed by recovery
From August 22 to August 25, Bitcoin showed a slow recovery. During this time, the price rose to over $ 6,700. At this mark, the course persisted until it fell back on 26 August to 6,400 USD. Thereafter, the sideways movement continued with slight fluctuations. On August 28, around noon German time, Bitcoin suddenly recovered to $ 6,700. However, the uptrend continued this time, showing a 3% rise to over $ 6,900. By the evening, the price was $ 6,900.
Then, suddenly, the price started to move again. So bitcoin exceeded the mark of 7,000 USD. At the time of writing, Bitcoin was still at $ 7,032 per coin. This should give hope to many investors, as recently the negative news seemed to go on and on. Examples include the reports of the US Securities and Exchange Commission. It had rejected several applications for Bitcoin-based listing of Exchange Traded Funds (ETFs).
Commentators were looking for explanations for Bitcoin's unexpected rise at the time of going to press. Entrepreneur and investor Alistair Milne had a straightforward answer as he tweeted:
“It almost seems people are back from vacation.”
Sources: Current Rates, Twitter 1, Twitter 2
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-kurs-durchbricht-7-100-usd-und-erreicht-53-marktdominanz/
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