Crypto market keeps climbing as BTC goes to $12k again

Crypto market keeps climbing as BTC goes to $12k again
Written by:
Ali Raza
10th August, 10:33
  • The crypto market is once again seeing a major rally that added over $10 billion to its total market cap.
  • Bitcoin price is closing in on $12k, while a number of altcoins are outperforming it quite strongly.
  • The largest daily gainers include ANKR and BAND, while LINK grew by 440% in a 12-month period.

The crypto bull run continues, with Bitcoin making a new attempt at breaching its current largest resistance at $12,000. The coin reached this mark last Sunday, as well, although its price was rejected. Now, a weekend surge sent it towards this level again, while altcoins started seeing significant price movements themselves.

Bitcoin closing in on $12k

Last Sunday, BTC managed to approach the price of $12,000 after several days of rallying, but unfortunately, its price was rejected down to $11,150.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Over the course of the week, however, the coin started seeing a recovery, which grew into a new rally. Today, August 10th, it is once again only a few dollars away from hitting $12k.

At the time of writing, Bitcoin price sits at $11,984.79, after growing by 2.48% in the last 24 hours. While this is not the biggest growth BTC has seen in the recent period, it might be all the world’s largest crypto needs to reach and breach $12k for the first time since June 2019.

If this happens, and the coin manages to remain above $12k, it might continue surging up. However, experts believe that another resistance will be waiting at $12,350.

Altcoins are rallying as well

While the new rally did encourage many to buy Bitcoin, this is not the only crypto that is seeing an impressive price performance right now.

In fact, many altcoins are outperforming BTC, some of which have even gone into double digits. For example, Ankr (ANKR) recently managed to enter the list of top 100 cryptos by market cap after rallying by as much as 63.28%.

Another project, known as Band Protocol (BAND), recently saw a 33.48% surge, which led it to its current $15.66.

Meanwhile, Chainlink (LINK) continues to carve its path up on the list of top 10 largest coins, currently sitting at 6th position, with a price of $13.48 and a market cap of $4.72 billion. The coin saw a 4.41% surge in the last 24 hours, but its 12-month increase exceeds 440%.

The new rally has added up to $10 billion to the total crypto market cap today, leading it to a new total of $365 billion.

Invezz uses cookies to provide you with a great user experience. By using Invezz, you accept our privacy policy.