The Bitcoin price (BTC/USD) has seemingly managed to secure a break above the $9,000 level after some intense trading in the past couple of sessions.
The original cryptocurrency enjoyed strong trading over the weekend, especially on Sunday morning, when the coin broke through the $9,000 barrier. The coin had moved within striking distance of that level on Saturday, closing that session at $8,838.38, well above its opening price of $8,689.75. BTC continued its advance during the opening hours of yesterday’s session, when its price surged to as high as $9,335.87, which was its highest level since May 10, 2018. The digital coin saw some big price swings in subsequent trading, including a drop below the $8,900 mark towards the end of the session. Eventually, BTC finished the day at $8,994.49.
Bitcoin managed to recapture the $9,000 level at the start of today’s session and, while the coin hasn’t been able to reach its yesterday highs, it has been trading comfortably above the $9,100 mark. At the time of writing, the Bitcoin price was hovering around the $9,150 level, according to data from digital currency tracker Coinmarketcap.
Bitcoin’s break above $9,000 comes days after The Wall Street Journal reported that Facebook had secured the backing of major companies such as Visa and Mastercard for its cryptocurrency project, which is expected to be unveiled later this week. Also last week, Bakkt, the upcoming Bitcoin platform backed by Intercontinental Exchange, announced that it would begin “user acceptance testing” for its two Bitcoin futures contracts on July 22.
In today’s trading, the Bitcoin price stood at $9,152.17, as of 10:50 BST. The digital coin has gained 0.3% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $162.5 billion, which represents 57.1% of the combined value of all digital currencies.
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