Bitcoin breaks above $8,000 for the first time in two months

24 Jul, 2018
by Matthew Kim
Breaking News
Bitcoin breaks above $8,000 for the first time in two months

For the first time since May 22nd, Bitcoin is valued above $8,000.

After worryingly falling to its low of the year on June 24th below $6,000, Bitcoin is once again showing signs of life. Within the last week, Bitcoin has risen by 18 percent; in the last month, Bitcoin sees green number of 35 percent.

Bitcoin dominance is also at its highest point since December 18th of 2017. At the time of writing, Bitcoin now comprises of 47% of the market.

While Bitcoin continues to rise in the recent run, the altcoins have remained down. Bitcoins and alts have generally moved together, and some are naming the separation of movement as “The Decoupling”.

The color of green next to the names of tokens has been a rare sight in the year of 2018. After the magnificently bullish year in 2017, the cryptocurrency market became a merciless place of blood. Bitcoin dropped over 60 percent from its all-time-high, dropping from above $20,000, and many altcoins fared worse.

However, many Bitcoin enthusiasts, and especially the veterans, patiently wait for the market to turn. With this recent surge, some believe that the bottom is already in. While the return of the bull market needs further confirmation, the market is getting more confident by the candle.

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Read more about: Bitcoin (BTC)

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