The Bitcoin price (BTC/USD) has been able to comfortably defend its Tuesday gains, having seemingly stabilised above the $6,300 mark.
The original cryptocurrency had a lacklustre morning session on Tuesday, following a price slump that brought its price down to an eight-day low of $6,257.52 on Monday. The digital coin spent the better part of yesterday’s morning session trading below the $6,300 mark, as it lacked momentum to launch a meaningful recovery. This changed in the early afternoon trading, with the Bitcoin price experiencing a sudden jump that allowed it to recoup some of its Monday losses. The coin eventually finished the day at $6,371.30, up from its opening level of $6,280.91.
While Bitcoin have seen some minor dips in today’s morning session, the coin appears to have stabilised above the $6,300 mark. At the time of writing, the Bitcoin price was hovering around $6,370, according to data from digital coin tracker Coinmarketcap.
Despite the rebound, Bitcoin is still well below the $6,500 barrier, which it had secured prior to the Monday drop. In addition, the coin hasn’t been able to penetrate $6,600 mark in two weeks. It has been trading in a relatively tight range ever since a September 5 media report about Goldman Sachs reportedly shelving plans to open a cryptocurrency trading desk hindered the momentum of a digital currency market that had appeared to be on the rise. Bitcoin started the month at above $7,000 and has lost nearly 10% of its value since September 1.
In today’s trading, the Bitcoin price stood at $6,372.48, as of 09:50 BST. The digital coin has gained 1.3% of its value in the past 24 hours, Coinmarketcap data shows. Its total market cap currently stands at just over $110 billion, which represents 55.1% of the combined value of all digital currencies.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.