RATE Group | Bitcoin Hovering Under $12,000 in Recent Surge, Major Altcoins See Green
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Bitcoin Hovering Under $12,000 in Recent Surge, Major Altcoins See Green

06 Aug Bitcoin Hovering Under $12,000 in Recent Surge, Major Altcoins See Green

Posted at 04:31h in Bitcoin News by

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Tuesday, July 30 — The number one cryptocurrency, Bitcoin (BTC), appears to have stabilized shy of $12,000 after quickly retaking $11,000 in a rally this weekend. Ether (ETH) and XRP are seeing slight gains at press time.

Market visualization. Source: Coin360

Bitcoin is trading around $11,700 at press time, with a 3.3% gain on the day. Bitcoin shot up quickly to over $11,500 within about four hours on Sunday, Aug. 4, subsequently reaching $11,800 on Aug. 5, but has subsequently settled a little lower at press time. 

Bitcoin 7-day price chart. Source: Coin360

The number two cryptocurrency, Ether, has seen mild gains on the day, currently trading at over $229.29 with a 1.38% gain on the day. On the week, the coin is up by over 10%.

As previously reported by Cointelegraph, the institutional cryptocurrency exchange San Francisco Open Exchange recently suggested that Ether may be close to losing its status as an altcoin, since its price is more correlated to Bitcoin’s than any other…

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