The Digital Currency Market Experiences Some Upside Movement As Bitcoin (BTC) Surges to the $7,500 Mark

bitcoin price analysis

The digital currency market is presently in the green, as the bulls are still present to continue the upswing it started this week. The top 10 digital currencies are gradually regaining strength and almost all of them are presently in the green. Bitcoin (BTC) is not deep in the green, however, it has managed to sustain the gains it amassed this week.

Bitcoin (BTC) Price Today – BTC / USD

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At the time of writing, the largest digital currency in the world by market cap is trading at $7,402 after an increase of less than 1 percent over the past twenty-four hours. The market cap of the digital currency is $127.02 billion and a trading volume of $3.49 billion over the past twenty-four hours.

The growth of Ethereum (ETH) is more significant than Bitcoin (BTC) over the last twenty-four hours with an increase of over 3 percent. The digital currency is holding a weekly gain of more than 6 percent and it tested a new weekly high of $510.

The Total Market Cap of the Crypto Market

At the time of writing, the total market cap of all the digital currencies in the market is fluctuating around $282 billion to $283 billion, but it is presently at $282.7 billion after an increase of 2% over the last twenty-four hours. Also, the total market cap tested a new weekly high of $300 billion.

On the 20th of July, the CME (Chicago Mercantile Exchange) reported that the daily average volume of Bitcoin futures has increased by 93% in the second quarter of the year over the first quarter.

The increase in the values of digital currencies this week was further encouraged by the statement of the CEO of BitMEX, stating that the current bull run of Bitcoin may pave way to a price point of $5k before heading towards the $50k mark in 2018.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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