RATE Group | Bitcoin Hovers Near $7,000, While Altcoins Show Marked Signs of Recovery
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Bitcoin Hovers Near $7,000, While Altcoins Show Marked Signs of Recovery

06 Aug Bitcoin Hovers Near $7,000, While Altcoins Show Marked Signs of Recovery

Posted at 00:10h in Bitcoin News by

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August 5: After yesterday’s market nosedive, Bitcoin (BTC) is up just slightly, hovering around the $7,000 mark. All major altcoins are however showing marked signs of recovery, up between one and seven percent, as data from Coin360 shows.

coin360

Market visualization from Coin360

Bitcoin (BTC) is trading around $7,040 to press time, holding ground on the day after its rapid tumble yesterday back to a price point not seen since July 17. The leading cryptocurrency could now be eyeing $6,800 as a short-term support, after several faltering pushes above the $7,000 threshold earlier today failed to hold. Bitcoin’s weekly losses are now at around 14.05 percent, with monthly gains pinched to just under 8 percent.

Btc

Bitcoin’s 24-hour price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH) is seeing slightly more significant daily gains, up 1-2 percent to trade around $412 at press time. The leading altcoin has nonetheless sustained a gradual decline to lose over $50 in value…

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