Bitcoin price (BTC/USD) briefly tops $4,000 on Thursday morning
The Bitcoin price (BTC/USD) has remained within striking distance of the key $4,000 following a couple of attempts to overcome the strong resistance around that level.
The original cryptocurrency saw some positive price action yesterday, especially during the morning session and in the early afternoon. After experiencing an early drop to $3,926.25, the digital coin rallied towards the psychological level of $4,000. The coin touched that level in early afternoon trading, but it wasn’t able to secure a convincing break above the barrier. BTC spent the rest of the session hovering within a tight range above $3,950. It eventually finished the session at $3,999.82, up from its opening price of $3,946.68.
Bitcoin saw another uptick in today’s morning session, which allowed its price to briefly top the $4,000 mark. However, after rising to as high as $4,010.01, the coin pulled back, returning to sub-$4,000 levels. At the time of writing, the Bitcoin price was hovering around the $3,990 mark, according to data from digital currency tracker Coinmarketcap.
Meanwhile, Bitcoin is still enjoying strong market activity, although trading volumes are somewhat subdued compared to Monday and Tuesday. Recent market data shows that some $8.6 billion worth of BTC tokens have exchanged hands over the past 24 hours, which is comparable with BTC’s daily trading volume on Wednesday.
In a recent interview with Fox Business, billionaire and Bitcoin bull Tim Draper made a bold prediction about the future of the cryptocurrency.
“I think we are probably two years away before everyone is buying coffee [with Bitcoin],” Draper said, adding that the implementation of the Lightning Network would make it “much easier for us to use our phone” for these types of everyday payments.
In today’s trading, the Bitcoin price stood at $3,991.67, as of 07:40 GMT. The digital coin has gained just over 1% in the past 24 hours. Its total market capitalisation currently stands at $70 billion, which represents 51.7% of the total value of all digital currencies.
