Bitcoin breaches $13,000 as bears continue to stall coin’s momentum

  • 10 July 2019, Wednesday, 02:30

Bitcoin [BTC] has been going through a roller coaster of a price movement over the past few months, going on to almost breach the $14k mark, before dropping below $10k again. However, it would seem that the coin has regained its momentum after that massive correction, after it surged past the $13,000 mark this morning.

On July 10, the price of BTC breached $13k and at press time, was valued at $13,070.70 as it noted a surge of $4.26% over the past seven hours. The coin did undergo correction, but the surge outweighed it as it noted a 24-hour trading volume of $29.414 billion. Over the last seven days, it reported a growth of 14.95% and moved up the price ladder by 9.33% over the day. However, bears still loom and may drag the price of the crypto down, which is why Bitcoin would have to establish a stable ground above $13k to move upwards.

The highest trading volume for the coin, $1.059 billion, was recorded by Binance via the BTC/USDT trading pair. CoinBene and Bit-Z followed, noting a volume of $949 million and $903 million, respectively, with BTC/USDT pairs. As the price of the coin moves up, it directly challenges the price of Gold and proves to be the digital gold, like the community calls it.