Bitcoin price (BTC/USD) edges lower after Monday surge

Bitcoin price (BTC/USD) edges lower after Monday surge

The Bitcoin price (BTC/USD) has seen some relatively quiet trading following a big price jump that allowed it to bounce back after a difficult Sunday session.

The original cryptocurrency had to endure some challenging trading over the weekend, especially on Sunday, when it hit a new 2019 low of $3,544.93. The digital coin continued to struggle at the start of this week, as it spent the better part of the Monday session trading below the $3,600 mark. However, the situation changed dramatically in the afternoon, as BTC experienced a big spike that allowed its price to top the $3,700 level for the first time in three days. The coin was able to defend that level in the final hours of the session and finished the day at $3,706.05, up from its opening price of $3,557.31.

While today’s session has so far been lacking of big moves, the Bitcoin price has edged lower, dipping below $3,700 in recent trading. At the time of writing, BTC was trading at around $3,680, according to data from digital currency tracker Coinmarketcap.

Still, thanks to its Monday surge, Bitcoin is currently up more than two percent over the past 24 hours. BTC’s price jump was mirrored by other major digital coins, such as Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and EOS. ETH and EOS were particularly impressive yesterday, with their respective prices posting double-digit percentage gains for the day.

In today’s trading, the Bitcoin price stood at $3,679.10, as of 10:04 GMT. The digital coin has gained 2.5% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $64.3 billion, which represents 52.4% of the combined value of all digital coins.

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

By Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His passion has given him first hand experience of trading, while his writing means he understands the market forces and wider regulation.

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