Over the past ten hours, the value of the Bitcoin (BTC) has increased by more than 11 percent, and this has increased its market cap and that of the entire digital currency market. In less than one hour, the value of BTC, BCH, ETH, XRP, and EOS surged by about seven to twelve percent, as the market cap of the crypto market increased from $272 billion to over $292 – which is an increase of more than $20 billion.
Bitcoin (BTC) Price Today – BTC / USD
At the time of writing, Bitcoin (BTC) is trading at $7,435 after an increase of 11 percent over the past twenty-four hours. The market cap of the digital currency has increased to $127.91 billion and its trading volume over the past twenty-four hours is $6.33 billion.
The Massive Increase in the Crypto Market
A surprising consolidation rally took place yesterday evening (July 17), resulting in an increase in the value of most digital currencies in the market by great margins. Bitcoin (BTC), Stellar Lumens (XLM), EOS, Cardano (ADA), and Zcash (ZEC) have been the best performers so far, with an increase of more than 11 percent in a short period of time. Cardano (ADA) is the highest on the list, rising by more than 20 percent over the past twenty-four hours.
The last time the value of Bitcoin surged by such a large margin was on the 9th of April when the value of the coin surged to $8k from $6,900 within thirty minutes. That increase made the coin to test the $10k mark.
If the value of the coin surge over the $8k mark in the near-term, chances are it will repeat the same trend it saw on the 9th of April, and it could test the $10k mark again. Nevertheless, if the value of the coin remains stable around the $7,400 level, it could try to breach key support areas between $8k to $9k by next week.