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Bitcoin price (BTC/USD) jumps to three-week high above $7,000

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Bitcoin price (BTC/USD) has topped the psychological level of $7,000 after gaining nearly 3% on Tuesday.

The No. 1 cryptocurrency topped elusive $6,900 mark in the early hours of yesterday’s morning trading, capitalising on the positive momentum it had gained during the Monday session. This put Bitcoin in a position to test the $7,000 mark, which had remained out of the coin’s reach since August 7. The digital currency secured the break above $7,000 in the early afternoon, thanks to a sharp uptick that took the Bitcoin price up to around $7,080. After a brief pause, Bitcoin continued its advance, rising to an intraday high of $7,109.56. This was Bitcoin’s highest price level since August 7, according to data digital currency tracker Coinmarketcap. The coin eventually finished the day at $7,096.28, up from its opening level of $6,891.08.

While Bitcoin has edged lower in today’s trading, the coin has so far been able to defend the $7,000 mark quite comfortably. At the time of writing, the Bitcoin price was hovering around $7,065, according to Coinmarketcap.

Bitcoin’s gains appear to be part of a larger uptrend observed across the cryptocurrency market over the past few days. Most major coins have seen solid gains in the past 24 hours, with IOTA (MIOTA) and Dash (DASH) being among the standout performers. As a result, the total value of all digital currencies has now topped $230 billion for the first time since August 8.

In today’s trading, the Bitcoin price stood at $7,064.95, as of 09:02BST. The digital coin has gained 1.9% in the past 24 hours, Coinmarketcap data shows. The coin’s market capitalisation currently stands at $121.8 billion, which represents 52.8% of the total value of all digital currencies.

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

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