After a few days of consolidation, the price of bitcoin has started to move upwards after dropping to a low of $2290 USD per BTC earlier this week. On July 2-3 bitcoin’s value rose above the $2500 range and recently tested a high of $2595 on Bitstamp, this morning at 10 am EDT time.Bitcoin Price Back on the Move Upwards As Bulls Take the Reigns
Our last markets update on June 25 was the start of a significantly longer than usual BTC bear market dropping below the sub $2300 territory. Since then the price rebounded back above the $2400 range and formed some consolidation and a triangular formation. A week later on July 3rd bitcoin is showing some bullish momentum as it tried to break the $2600 zone. Currently, the price per BTC is holding a weighted average of $2560 across global exchanges, with approximately a billion dollar’s worth of 24-hour trade volume.
Since bitcoin’s price downturn last week nearly every other cryptocurrency market followed its path. At the moment overall cryptocurrency market capitalizations are just above $100 billion but it dipped lower than that earlier this week. Out of all the crypto-caps, bitcoin is commanding a 41 percent market dominance, which is considerably higher than weeks prior. Asian bitcoin markets are still trading BTC at premium prices throughout a few exchanges, such as South Korea’s Korbit, and China’s BTCC with prices $50-100 higher at the moment.
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https://news.bitcoin.com/markets-update-bitcoin-bulls-testing-resistance/
