Bitcoin has had a strong last 24 hours. Yesterday, the world’s biggest cryptocurrency was traded at $9,878. On Friday, the price peaked at $10,583, according to numbers from Bitstamp.
That is an increase of over seven percent and a clear breakthrough of the $10,000 level.
“The recent 24-hour rise does not seem to be the result of an individual buyer buying large volumes of bitcoin, which is a positive sign. If the rise continues over the next few days, it is not entirely unlikely that we will be moving up to around $14,000 again, and maybe even see new record highs around $19,500. Just keep your fingers crossed”, says crypto expert Totte Löfström to Trijo News.
Stock markets are falling
The world’s stock markets have fallen sharply over the last 24 hours after US President Donald Trump tweeted that the country intends to impose new tariffs on China on goods such as toys and mobile phones.
However, whether the rise of the bitcoin price has to do with stock market turmoil is unclear.
What is clear, though, is that bitcoin’s total market cap has risen to $188 billion. Bitcoin currently accounts for 65.8 percent of the total market cap for all cryptocurrencies, according to Coinmarketcap.
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