RATE Group | Bitcoin Holds Above $6,000 While Industry Figures Warn Over ETF ‘Benefits’
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Bitcoin Holds Above $6,000 While Industry Figures Warn Over ETF ‘Benefits’

16 Aug Bitcoin Holds Above $6,000 While Industry Figures Warn Over ETF ‘Benefits’

Posted at 10:22h in Bitcoin News by

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Bitcoin (BTC) prices are up around .05 percent on Thursday, August 16, bringing the leading cryptocurrency solidly back over $6,000 after a market fall that had seen BTC dip below that psychological price point on August 14.

Market visualization from Coin360

Market visualization from Coin360

Data from Cointelegraph’s price tracker shows overall 2.5 percent monthly gains for Bitcoin as of press time, despite the latest correction from it’s weekly high of around $6,600, against weekly losses of almost 10 percent.

Continuing its trend of short-term volatility, BTC/USD is currently around $6,407, with commentators eager to see if support at $6,000 has solidified.

Bitcoin’s 7-day price chart

Bitcoin’s 7-day price chart. Source: Source: Coinmarketcap

The price performance comes as the cryptocurrency industry becomes increasingly indifferent to the potential effect of a Bitcoin exchange-traded fund (ETF) acceptance or rejection by U.S. regulators.

Previously hailed as a factor which could propel or deflate markets significantly, Andreas…

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