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Bitcoin price (BTC/USD) tries to defend weekend gains

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The Bitcoin price (BTC/USD) has risen to a near one-month high after enjoying some strong trading over the weekend.

The original cryptocurrency saw some solid gains after securing a break above the $7,000 level on Friday. The digital coin notched up a close of $7,193.25 on Saturday, which was higher than its opening level of $7,044.81. The coin continued to advance during Sunday’s morning trading, with its price rising to as high as $7,306.31. This was Bitcoin’s highest price level since August 4, according to data from digital currency tracker Coinmarketcap. Bitcoin saw a slight pull-back in the afternoon, finishing the session at $7,272.72, which was still its highest close since August 3.

While the digital coin has seen some decline in today’s morning trading, it has managed to stay above the $7,200 mark. At the time of writing, the Bitcoin price was hovering around $7,230.

Bitcoin’s strong performance over the weekend was a fitting end to a rather positive week for the cryptocurrency sector. The market saw some strong gains during the first couple of sessions of the week and then managed to overcome a mid-week correction that nearly erased its earlier progress. The market was bolstered by some positive developments, such as the news that South Korean major crypto exchange Bithumb was once again accepting new user registrations. However, last week’s positive trading only helped Bitcoin to mitigate its monthly loss, as the coin posted a 10% loss in August.

In today’s trading, the Bitcoin price stood at $7,227.00, as of 10:56 BST. The digital coin has lost 0.9% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $124.6 billion, which represents 53.1% of the combined value of all digital currencies.

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

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