The Bitcoin price (BTC/USD) has hit a 10-day high after rallying in yesterday’s afternoon trading.
The original cryptocurrency had a relatively quiet morning session on Monday, trading below the $6,400 mark it had topped over the weekend. However, its performance improved notably in the afternoon, benefiting from a strong upswing felt across the wider cryptocurrency market. The digital currency surged to an intraday high of $6,683.86, which was also its highest price since June 22. Bitcoin eventually finished the session at $6,614.18, up from its opening level of $6,380.38.
The coin has been table since the start of today’s trading, with its price rising to as high as $6,671.37 in the early hours of the session. At the time of writing, the Bitcoin price was hovering around $6,640, according to data from digital currency tracker Coinmarketcap.
Yesterday’s gains contribute to a strong start of the second half of the year for Bitcoin. The cryptocurrency struggled in the first six months of 2018, losing more than 50% of its value in that period amid concerns over regulation, crypto exchange hacks and a notable drop in investor interest. Most altcoins, including Ethereum (ETH), Ripple (XRP) and Litecoin (LTC), have seen similar, or even steeper, declines.
Thanks to the strong performance over the past few days, Bitcoin is now up nearly 14% from its last week low of $5,835.75. However, it remains to be seen whether this is beginning of a genuine turnaround, or just a temporary respite for the No. 1 digital coin.
In today’s trading, the Bitcoin price stood at $6,646.95, as of 10:16 BST. The digital currency has gained 4.5% over the past 24 hours, Coinmarketcap data shows. The coin’s market capitalisation currently stands at $113.8 billion.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.