Bitcoin (BTC) Presently Hovering Around $7k as the Crypto Market Shows Signs of Recovery

After the slight consolidation in the market yesterday, the value of Bitcoin (BTC) moved up a bit. At the moment, the digital currency is trading around the $7k mark. Also, most of the top digital currencies in the market are showing signs of recovery, seeing gains between 1 and 7 percent over the past twenty-four hours.

Bitcoin (BTC) Price Today – BTC / USD

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At the time of writing, the world’s largest digital currency is trading at $7,080 after amassing gains of more than 1.6 percent over the past twenty-four hours. The current market cap of the digital currency is $122.49 billion which is an increase of more than $2 billion over the past 24 hours. However, the daily trading volume of the coin has dropped to $3.73 over the past twenty-four hours.

Ethereum (ETH) has also been doing well, seeing an increase of about 2 percent over the past twenty-four hours. On Smartereum’s price listings, all the top 17 digital currencies are in the green except IOTA (MIOTA) which has lost about 2 percent of its value over the past twenty-four hours.

The overall market cap of the entire crypto market is presently around $257.5 billion – which is an increase of about $5 billion from its low yesterday.

On Sunday, August 5, 2018, Starbucks – enterprise collaborating with Intercontinental Exchange (ICE) to develop the digital currency ecosystem – clarified that it won’t be accepting BTC or other digital currencies as a means of payment, after the misleading reports from mainstream media.

Intercontinental Exchange also said that it’s going to offer physically delivered Bitcoin (BTC) futures contracts starting from November this year – provided the US CFTC (Commodity Futures Trading Commission) gives it the green light to go ahead.

The news about ICE working with other firms to enhance the crypto space circulated a few days ago. However, it has been clarified that the speculation that it would enable users to make payments with Bitcoin (BTC) is false.

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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