The Bitcoin price (BTC/USD) has bounced back to reclaim the $3,500 level after closing below that mark on Thursday.
Following a relatively uneventful morning session, the original cryptocurrency rose to an intraday high of $3,427.95 in the early Thursday afternoon. However, this was swiftly followed by a pull-back that sent the digital currency on a downward trajectory. This led to a drop to sub-$3,400 levels in a second consecutive session for Bitcoin, which also recorded a new 2019 low of $3,394.22. The coin eventually finished the session at $3,399.47, slightly below its opening price of $3,414.93.
While Bitcoin had a slow start to today’s session, it has managed to bounce back in recent trading. At the time of writing, the Bitcoin price was hovering around the $3,440 level, according to data from digital currency tracker Coinmarketcap.
Bitcoin’s rebound appears to be part of an uptick affecting the wider digital currency market. Most major cryptocurrencies are posting gains for the most recent 24-hour period, thanks to rebounding in today’s morning session. Litecoin (LTC) has been particularly impressive, having gained more than 10%.
In other Bitcoin news, industry website Cointelegraph has reported that the number of BTC transactions has been rising steadily in recent months and has now reached levels not seen since January 2018. The online publication cited data from website transactionfee.info. According to the data, the averaged amount of daily BTC transactions reached just over 336,000, which was the highest result since January 12, 2018.
In today’s trading, the Bitcoin price stood at $3,436.21., as of 10:12 GMT. The digital coin has gained 0.4% in the past 24 hours, Coinmarketcap data shows. Its total market capitalisation currently stands at $60.2 billion, which represents 53.1% of the combined value of all digital coins.