The Bitcoin price (BTC/USD) has reclaimed the $4,000 mark after experiencing a sharp rise in today’s early trading.
The original cryptocurrency had to endure a rough morning session on Tuesday, with its performance hindered by frequent price fluctuations. Having opened the session at $3,765.95, the digital coin hit an intraday low of $3,661.01 following steep drop in late morning trading. However, the digital coin managed to gain some momentum in the afternoon, which allowed to stabilise its performance in the afternoon. Bitcoin rose to as high as $3,862.96, before closing the session at $3,820.72.
The coin continued to build momentum during the early hours of today’s session, advancing towards the $3,900 mark. Once BTC got to that level, it experienced a sharp uptick that propelled its price above the $4,000 level. The coin rose to as high as $4,073.35, before pulling back to slightly lower levels.
Ever since Bitcoin dropped below $4,000 on November 24, it has experienced difficulties in retaking the level. The coin’s price topped $4,000 in each of the following sessions, except for Tuesday, but it has managed to close above that level only once. So far today, Bitcoin has managed to defend the level, but it has come under pressure in recent trading.
Still, Bitcoin has enjoyed significant gains over the past 24 hours, and so has the broader cryptocurrency market. Most of the major altcoins, including Ripple (XRP), Ethereum (ETH) and Litecoin (LTC) have been advancing steadily, helping the market grow by some $10 billion over that period.
In today’s trading, the Bitcoin price stood at $4,015.73, as of 10:16 GMT. The digital coin has gained just over 8% in the past 24 hours. Its total market cap currently stands at $69.8 billion.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.