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Bitcoin Continues to Race Ahead, Crosses $11,500 Mark; Overall Market Cap Again Above $300 Billion

The march of Bitcoin continues even after the weekend. At the moment it has crossed $11,500 mark, and it’s holding above this level in a sustainable manner, which shows the strength that bulls are having right now.

August 05, 2019 12:34
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There might have been some decline in the prices of Bitcoin last week, but there’s nothing stopping it now. After breaching the $10,500 mark on Friday night today it has crossed $11,500 mark as well, and at the time of writing this article it’s trading at $11,570. That’s a jump of more than 8% from the price of yesterday, and other cryptocurrencies are also in the green by major margins. You can see that in the market snapshot given below:

Market snapshot on 5th of August

As you can see, there’s not even a single cryptocurrency in the red as of now. This shows the clear strength of bulls in the market, and as we’ve been saying since a long time… it shouldn’t take too long for BTC to reclaim its $13,000 level now.

If we speak of the biggest risers, that tag has also been held by Bitcoin today. It’s the single largest riser among top 50 cryptocurrencies, which speaks something about its increasing dominance in the cryptocurrency space. The overall market has also crossed $300 billion mark once again, and BTC dominance in this market cap stands at 67.7%, which is a record since April 2017.

Now it will be interesting to see how quickly Bitcoin reclaims its $13,000 mark. Let’s see!

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)

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