Real Time Cryptocurrency News & Analysis

Bitcoin price (BTC/USD) looks to reclaim $7,000 after late Thursday rebound

The Bitcoin price (BTC/USD) is looking to reclaim the $7,000 mark after making a comeback in late Thursday trading.

The original cryptocurrency struggled on Thursday, amid a widespread crypto correction. The digital coin suffered some losses in the morning session, with its price dropping below the psychological level of $7,000. The coin continued its decline in the afternoon, with its price falling to an intraday low of $6,834.69 in late trading. However, the digital currency the experienced an unexpected rebound, which allowed it to finish the day on a high note. Despite its earlier struggles, Bitcoin notched up a close of $6,978.23, which was only slightly lower than its opening level of $7,043.76.

Yesterday’s positive finish has put Bitcoin in a position to retest the $7,000 level in today’s trading. While the coin managed to revisit the level, with its price rising to an intraday high of $7,008.87 earlier in the session, it has so far been unable to secure a decisive break. At the time of writing, the Bitcoin price was hovering around $6,995, according to data from digital currency tracker Coinmarketcap.

Other digital coins made similar comebacks in yesterday’s late trading, including IOTA (MIOTA), which managed to reclaim the $0.70 level, after having fallen to as low as $0.670 earlier in the session. The fifth-largest digital coin, EOS, also experienced a notable rebound, rising from an intraday low of $5.80 to a close of $6.08.

In today’s trading, the Bitcoin price stood at $6,994.44, as of 09:55 BST. The coin has gained 0.3% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $120.6 billion, which represents 53.3% 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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