In the past hour, the price of Bitcoin (BTC) surpassed the $ 11,000 level in a high-volume surge that saw the price hit a new 2020 high at $ 11,394.
At press time, the price has dropped slightly to the $ 11,150 range, but the volume of purchases continues to increase within 1 hour. This suggests that the highest ranked digital asset in CoinMarketCap may have another chance at the daily high.
Crypto market weekly price chart. Source: Coin360
As previously reported by Cointelegraph, chain activity saw a significant increase in currency inflows as the price of Bitcoin rebounded above $ 10,000 and analysts at Bloomberg now estimate that the price of Bitcoin will rise above $ 12,000 this year.
The price of ether (ETH) also rose above its previous high by rising to $ 333.52, but as of writing, the top altcoin has retreated below $ 330.
Bitcoin daily price chart. Source: Coin360
According to CoinMarketCap, the global capitalization of the cryptocurrency market is now $ 326.7 billion. Bitcoin’s domain rate currently at 63.1%.
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