Bitcoin's price surged above $9,200 on Tuesday to hit a 40-day high with 37.4% dominance of the market cap, according to data collected from coinmarket cap.
Following a steady increase
over the past week, the price of the world's largest cryptocurrency by market
capitalization jumped above $9,000 soon after the morning trading session began
around 00:30 UTC, after which it continued to climb up to as high as $9,220.97 at around 2:00 UTC.
The price is at its highest
point since March 14, when bitcoin dropped $800 within one trading day to
reach a one-month low around $8,000. Following the plunge, the
cryptocurrency's price declined to as low as $6,593 on March 30, reflecting
what is now a 39% gain since that market bottom.
In
addition, the whole cryptocurrency market has seen a good price increase as
well in the past month, climbing above $400 billion in terms of total
capitalization, according to data from CoinMarketCap. That
figure has shifted between $200 billion and $300 billion since March 18.
Currently, four out of the
five largest cryptocurrencies by market capitalization are all seeing their
prices at one-month highs, market data shows. Ethereum, the world's
second largest cryptocurrency, is now above $660 after recently dropping below
$400. The price of bitcoin cashhas nearly doubled in the
week since April 18, climbing back above $1,500 as of press time.
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