Over the past couple of weeks, the cryptocurrency market has been rather flat, with Bitcoin price showing moderate movements in either direction. Over the past day, however, Bitcoin has surged to break the $8000 mark again which has resulted in a new flash of green with other cryptocurrencies boasting gains. Litecoin, in particular, has been maintaining the positive trajectory it has been showing over the past week and now it holds double-digit gains.
After several days of low volatility with Bitcoin sitting between $7600 and $7900, Bitcoin has broken the $8000 mark of resistance once more and is now valued above $8100 bringing in a new seven-day high. Over the past 24 hours, Bitcoin has gained 4.63% in trading values.
Although the chart might not show a wild surge upwards, this healthy incline might be exactly what’s needed to bring the crypto-spring into full-blown summer.
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As it often does, Ethereum price has followed Bitcoin’s upward trend. The leading altcoin is up by 5.50% in daily trading to touch the $255 figure after trading around $240 during the course of the week. As sentiment increases, so does the token price, driving the chart direction in the right direction.
Litecoin has been one of the biggest movers in the markets, showing consistent increases. At present, Litecoin is showing a tasty 10.05% gain which takes it to the highest value the token has seen in the past year. At $142.35, Litecoin is showing a swing of recovery in the charts since it surged in 2017 along with the rest of the market.
The crypto-community has been enthusiastic about Bitcoin’s growth over the past month. eToro’s Mati Greenspan gave point to the overall adoption and market volume of Bitcoin. As he said, putting aside the spike in 2017, the cryptocurrency market has shown a moderate, constant incline.
Global volumes @LocalBitcoins.
If you ignore the 2017 crypto summer bubble, the direction of the trend is quite clear. pic.twitter.com/9zdNmTE13h
— Mati Greenspan (@MatiGreenspan) June 12, 2019