RATE Group | Bitcoin price stays above $3,500 as rally holds for now
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Bitcoin price stays above $3,500 as rally holds for now

18 Dec Bitcoin price stays above $3,500 as rally holds for now

Posted at 11:08h in Bitcoin News by

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The price of Bitcoin took a sharp uplift yesterday, propelling it back above $3,500 for now. 

A heavy influx of volume at around lunchtime yesterday propelled the price of Bitcoin around $150 northwards, and instigated something of a rally for the beleaguered headline cryptocurrency. According to CryptoCompare‘s Indexed price, which creates a weighted snapshot of bitcoin trading across a wide range of exchanges, its price eventually peaked out at $3,659 around 8pm last night, before settling to oscillate around the $3,550 mark – where it sits at the time of writing.

The move represents a relieving uptick for crypto hodlers, who have been battered across 30-or-so days that at points wiped 50% from the value of a bitcoin from the point where it started its notable decline on November 14th – taking it as low as $3,169 on December 15th. The current price, however still represents a drop-off of 44% from that date.

While that rise will no doubt be welcomed, taking a…

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