Bitcoin [BTC] spikes by 7.6%; close to breaking out above $4k mark again

The cryptocurrency market continues to ride the waves of the bull and the bear’s wrath. At the time of reporting, Bitcoin [BTC] was trading at a price of $3930 with a market cap of $6.5 billion. Here, the total trade volume of the coin in the past 24 hours was recorded at $5.68 billion.

Bitcoin 7-day price graph | Source: CoinMarketCap

Bitcoin 7-day price graph | Source: CoinMarketCap

Throughout the 7-day cycle, the price of BTC saw many fluctuations take place wherein the token acted unpredictably on the market front. At the beginning of the week, the coin was trading at a fair price of $3886 wherein its market cap was valued at $67.7 billion.

Bitcoin also crossed the mark of $4000 with an upturn and then went even higher to reach its week-peak at $4271 with a market cap equivalent to $74.5 billion. However, in a span of just a few hours, Bitcoin slumped to a high degree and was trading at $3768.

This was not the lowest of the coin across the week. The token hit the bottom across 7 days at $3643 with a market cap of $63.5 billion.

In the 1-day price chart, BTC started trading at a low price of $3658 with a market cap of $63.8 billion. In the span of an hour, the coin jumped from a low of $3685 all the way up to $3095 where its market cap reached $68.12 billion.

Bitcoin 1-day price graph | Source: CoinMarketCap

Bitcoin 1-day price graph | Source: CoinMarketCap

This bull run has not just affected Bitcoin but all the coins under it that behave in a correlated manner, namely, XRP, Ethereum [ETH], Bitcoin Cash [BCH], EOS, Litecoin [LTC] and Tron [TRX]. Among these, Ethereum has won by showing the greatest spike of 17.72% and is currently trading at $127.72 with a market cap of $14.3 billion.

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