RATE Group | Crypto Markets See Second Day of Green, Bitcoin Above $9,700
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Crypto Markets See Second Day of Green, Bitcoin Above $9,700

12 Aug Crypto Markets See Second Day of Green, Bitcoin Above $9,700

Posted at 02:57h in Bitcoin News by

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Wednesday, July 31 — crypto markets are seeing widespread green, with Bitcoin (BTC) breaking back above $9,700 and many large market cap altcoins seeing solid gains of between 3 and 9% on the day.

Market visualization

Market visualization. Source: Coin360

Despite trading in a lower price range since dropping back to a four-figure price point in a recent corrections, BTC is today up a solid 2.4%, bringing it to $9,717 by press time. 

This mild uptick nonetheless stops short of bringing the coin back into the green on its 7-day chart, where Bitcoin is still reporting a fractional 0.7% loss. On the month, losses are starker, topping 8%.

Yesterday, Peter Tchir — a former Executive Director at German multinational investment bank Deutsche Bank — argued that Bitcoin is an indicator of hidden geopolitical tensions, pointing to the coin’s momentous performance this May at a time of fraught trade talks between the United States and China.

Also this week, erstwhile Bitcoin bear and CNBC host Joe Kernen

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