Bitcoin [BTC] recently broke the $4000 barrier after trading in the high $3000s for the past few days. The coin spiked up with a sudden growth of 4.8% in a few hours, thus rounding off its weekly growth of 7.3%. The #1 coin now controls 53.8% of the market with a market capitalization of $69.9 billion.
It is currently trading at $4010, with a volume of $5.4 million over the past 24 hours. It started off the week at $3710, with a hike to $3820 on November 28th. On the same day, the coin hiked again to $4030, followed by a third hike to $4240. This gives the coin a hike of 14.2% on just that day.
However, the bulls seemed to not be done with the coin, as it reached a high point of close to $4400 on the very next day. On the same day, the coin corrected to the high $4100s. It touched the weekly high of $4400 on November 29th, following it up with a continued and persistent series of drops, which culminated in the price being close to $4000.
The beginning of the new month seemed to have more in store for Bitcoin, as it saw another hike to $4270, staying around that mark before a drop to the $4000 level on December 3rd. It saw a further drop on the same day to $3875, setting the stage for its sharp hike upwards today, which moved the price from $3840 to $4015.
The coin seems to be establishing a dominant presence in the market, owing to the added faith in Bitcoin. Nasdaq also confirmed that they will be launching a futures product in the first half of 2019, along with Fidelity announcing that they would be entering the cryptocurrency space. This contributes to create a prominent bullish momentum in sentiment for the top cryptocurrency, which has recently been suffering a slump after its drop below $6000.
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