Above $7K: Bitcoin's Price Shoots Up $600 in 30 Minutes
Bitcoin's price shot well above $7,000 Tuesday in a dramatic move.
Jul 17, 2018 at 6:13 p.m. UTC
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Bitcoin's price shot well above $7,000 Tuesday in a dramatic move that took the cryptocurrency to a level it hasn't seen in more than a month.
As of press time, the world's most valuable cryptocurrency by market capitalization was trading at $7,368.22, up more than $600 from the day's open at $6,726.40. Indeed, the market moved quickly, posting the gains over the course of 45 minutes.
CoinDesk's Bitcoin Price Index (BPI) registered a market high of $7,408.28 amidst the sudden spike upward. The last time the price was this high was on June 10, BPI figures reveal.
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At press time, Bitcoin is the biggest gainer among the top 10 cryptocurrencies by market capitalization and is reporting a 16.19 percent week-to-week price increase, according to price tracking site CoinMarketCap.
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Other major cryptocurrencies are following suit – a usual occurrence when bitcoin prices surge. Names like XRP, EOS, and litecoin (LTC) are all printing gains above 6 percent.
Per CoinMarketCap, the total market capitalization for the cryptocurrency market hit roughly $287 billion in light of the market uptick.
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