Bitcoin price (BTC/USD) remains relatively stable, as altcoins suffer

on Sep 12, 2018
Updated: Oct 11, 2019

The Bitcoin price (BTC/USD) has remained relatively stable, even though the broader cryptocurrency market has seen significant losses over the past 24 hours.

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The original cryptocurrency managed to limit its losses on Tuesday, despite seeing a major drop in the afternoon session. During the morning session the coin made an attempt to break above the $6,400 barrier, but its advance stopped at an intraday high of $6,398.92. The coin experienced a significant pull-back in subsequent trading, which led to its price dropping below the $6,300 level in the afternoon. The Bitcoin price fell to as low as $6,260.21, but it managed to bounce back in the final hours of the session and finished the day at $6,321.20, slightly down from its opening level of $6,331.88.

Bitcoin has been hovering around the $6,300 level, trying to resist the growing selling pressure. At the time of writing, the coin was trading at around $6,280, according to data from digital currency tracker Coinmarketcap.

While Bitcoin has experienced significant difficulties over the past week, the No. 1 digital currency has also shown a far greater resilience than many of its chief crypto rivals. While major altcoins, such as Ethereum (ETH), Bitcoin Cash (BCH) and Cardano (ADA) are posting double-digit percentage losses over the past 24 hours, BTC has remained relatively unscathed in comparison. As a result, the Bitcoin dominance has surpassed 57% for the first time this year.

In today’s trading, the Bitcoin price stood at $6,284.29, as of 09:09 BST. The digital coin has lost 1.2% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at almost $108.5 billion, which represents 57.9% of the combined value of all digital currencies.

For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.


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